The Final Fantasy creator says 2023 will be a breakthrough year for blockchain games
Japanese gaming giant Square Enix has announced plans to make further inroads into the crypto gaming sector in 2023 with intentions to roll out new titles.
In a New Year’s newsletter issued in early January by the company’s CEO, Yosuke Matsuda, he acknowledged that plans to venture into the blockchain space are progressing despite the industry being weighed down by the general drop in cryptocurrency prices.
“Our group has several blockchain games based on original IPs in development, some of which we announced last year, and we are making preparations that will enable us to reveal even more titles this year. <…> We hope that blockchain games will move to a new stage of growth in 2023, he said.
However, Matsuda did not delve into the type of blockchain games likely to be rolled out later by the company behind popular titles like Final Fantasy and Dragon Quest.
Take advantage of the crash in the crypto sector
According to management, the correction in crypto prices and the overall impact of the prevailing macroeconomic factors presented an opportunity for consolidation in decentralized gaming technology.
Interestingly, Matsuda suggested that the entry of non-fungible tokens (NFTs) into the gaming space was characterized by speculation, and the fall in valuation is an opportunity to explore new use cases. At the same time, he emphasized the importance of blockchain-based gaming, and observed the principles of decentralization.
At the same time, with the cryptocurrency and blockchain sector marked by volatility and events like the FTX collapse, the Square Enix CEO noted that the situation had accelerated the call for regulation. In this line, he points out that Japan’s move to unveil mechanisms to regulate the sector is a welcome move.
“If this turns out to have been a step in a process leading to the creation of rules and a more transparent business environment, it will definitely have benefited the growth of blockchain entertainment,” he wrote.
Square Enix’s blockchain story
It’s worth mentioning that Square Enix previously announced a plan to embrace blockchain technology back in 2021. For example, the company launched the NFT-powered Symbiogenesis, an interactive experience.
In particular, Matsuda has largely supported the introduction of Web3 technologies as part of entertainment and gaming. Overall, the global gaming industry is increasingly embracing new technologies with a focus on segments such as metaverse games.
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