Square Enix continues to step on rakes and punch itself in the face like Sideshow Bob. But instead of grumbling angrily at its own misfortune, the publisher takes a twisted delight in terrible decisions, almost proud of how it continues to subvert public opinion and dig its own grave. In 2022, we witnessed the rise and fall of blockchain technology as companies attempted to jump on the bandwagon in search of a quick buck. As expected, it all fell apart, and the industry is now floundering amid its own misguided mediocrity. Shocking stuff.
Cryptocurrency is still an effective tool among internet robbers and perpetual basement dwellers, but big companies that tried to flog NFTs and transform their beloved assets into goldmines of digital permanence were met with derision and debasement so extraordinary that you can’t help but laugh. Square Enix either hasn’t heard these complaints or simply doesn’t care, and it’s a bad look either way.
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Square Enix CEO Yosuke Masuda published its annual letter of intent to mark the beginning of 2023, and it mentions the word “blockchain” a total of 14 times. Just like last year, and despite the last 12 months being a monumental failure for NFTs and the metaverse, the company continues to try to find a way forward for its own capitalist greed. The love of blockchain is not about advancing the potential of its games or benefiting the consumer, it is nothing but revenue streams and ways to take advantage of our goodwill where possible.
He talks about the potential to advance interactive media and technology through the use of blockchain, but every one of his points is drenched in cynicism, and a clear misunderstanding of its own market and the legacy it has spent decades building. Square Enix is known for iconic JRPGs and franchises like Final Fantasy and Dragon Quest, even more so after selling all its western properties and studios for pennies to double down on all this nonsense. It’s a company I grew up admiring as a young gamer and creator, and now I have to question my own moral standing and whether it’s worth supporting them anymore when behind all the games I love is an executive hierarchy that wanting nothing more than to see this planet burn. It’s the endgame for blockchain if we’re lazy, a rejection of innovation and creativity in exchange for temporary profits and a decimated reputation. It’s mind-blowing, and it’s a case of willful ignorance on Square Enix’s part that it has no intention of going back on. I have to wonder how the teams and individuals working under Masuda really feel and if they seriously buy into all this nonsense.
Developers like Yoko Taro, Naoki Yoshida and Tetsuya Nomura have worked with the company for decades now, known for producing characters, worlds and stories eager to criticize the flaws of corporate greed and how it will lead to our global downfall. Give it a few more years and Square Enix will literally become the Shinra of Final Fantasy 7, but instead of ancient monsters and nukes conjured from the literal life force of the world, it’ll be shilling JPEGs of anime twinks for thousands of dollars or put together a metaverse that doesn’t respect the years and years of blood, sweat and tears from the library of properties. Now it’s all being thrown away for nothing, and it’s not like the people I mentioned are in a position to speak up or want to call out their superior for being wrong, as he clearly is. So instead we march forward into oblivion, or a backpedal so severe it will make the next annual letter read like a crude apology.
The thing is, Masuda even addresses the clear backlash against NFTs and blockchain technology, but instead of actively addressing the criticism, he believes that new things like this will naturally attract critics and those who don’t understand it. He doesn’t assuage our concerns so much as call us idiots for always having them in the first place, which is very appropriate for the CEO of a company that these days is a shadow of its former self.
“Blockchain has been a subject of excitement and a source of unease,” he says, “But with that in the rearview mirror, we hope blockchain gaming will move into a new stage of growth in 2023.” They won’t, and I’m pretty sure Masuda knows that, although he’d much rather defend an ill-advised investment that’s already in the billions than own up to his mistakes and how none of this has any kind of long lifetime . Square Enix should be pushing the medium forward and making history with its brilliance, and is doing so in a big way with the likes of Final Fantasy 7 Rebirth, Octopath Traveler 2 and a number of excellent new games and nostalgic remasters that recognize the value of its origins.
#But when all this serves a higher purpose of taking advantage of consumers and investing in technology that is proven to be harmful and always benefits those at the top, I have to ask myself if it’s worth supporting them anymore . Square Enix hasn’t budged in the slightest, and judging by Masuda’s latest diatribe, blockchain is the future it wants.
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