Square Enix presents its strategy for 2022: more blockchain, NFT, web3, metaverse in their games.
Square Enix (SE) said in its Q1 financial results presentation that it intends to launch more non-fungible tokens (NFTs) in its games as part of its mid-term strategy for 2022.
Square Enix unveils its strategy for 2022
The report explains that the Japanese giant began testing NFTs on its Shi-San-Sei Million Arthur game in February of this year. The success of this pilot program will lead to the second NFT season and allow the company to enter the NFT and blockchain market. Among the main priorities in this area, SE plans to develop clear guidelines and guides for blockchain games and even plans to create a special company.
Square Enix has also stated that it intends to create a legal entity in the West for all management and investment of its tokens, suggesting that the company really wants to create a token economy in video games.
More blockchain, NFT, web3, metaverse in their games
SE is working with gaming company web3 and the metaverse Animoca Brands to explore different options in the gaming and blockchain world. This collaboration between the two companies should expand as SE wants to dive deeper into this ecosystem. Animoca’s executive chairman Yat Siu is confident that Square Enix’s influence in games will help bring it into the blockchain gaming space: “Square Enix has long been talking about the potential of blockchain games, rather than the stance of most traditional gaming giants on the issue.”
The report mentions the investment and monetization of blockchain, artificial intelligence and cloud computing as the third goal of this medium-term strategy. All of this is in perfect harmony with the intentions expressed by CEO Yosuke Matsuda in January when he announced a company more involved in these technologies.
The popularity of web3 and NFT in gaming remained strong in 2022 despite the crypto market continuing to fall. According to tracker DappRader, there were 1 million daily active players this Saturday, almost the same as on January 1st. However, players aren’t buying as much as they used to, with total NFT item sales dropping 88% from $70M on January 1st to $8.7M on Saturday.