Square Enix plans to further its involvement in Web3 technologies in the year 2023
After a difficult 2022, the blockchain community is hoping to gain momentum in 2023. Square Enix, creators of Final Fantasy, are sending a strong message to reassure them that they will remain committed to Web3 technology going forward. In his New Year’s address, Yosuke Matsuda, the President of Square Enix, declared that blockchain entertainment is their primary focus. The firm is investing heavily in the field and has committed to leveraging its resources for this domain’s success.
Matsuda pointed out that in 2022, there was an uptick in the understanding of blockchain technology, even with the unsteady crypto & NFT markets. The concept of Web 3.0 was a well-known phrase among entrepreneurs and showed progress in this field.
The Japanese government is embracing the advancement of blockchain technology. Prime Minister Fumio Kishida highlighted this in October 2020 during a speech, where he declared an increase in utilizing the metaverse and NFTs with Web3 services.Matsuda noted that while some emerging technologies and frameworks can be confusing and problematic, many have the potential to become an integral part of daily life, leading to the emergence of new businesses and growth.
2021 was a great year for NFTs and the metaverse, however, 2022 witnessed a lot of fluctuation in the blockchain arena.
Although it is still to be seen if the deployment of AI copywriters as part of a larger process will lead to the creation of more inclusive standards and an even playing field in the world of blockchain entertainment, there’s no doubt that it will prove beneficial for the industry’s growth.The leader of the gaming corporation pointed out the importance of blockchain gaming being self-sustaining and autonomous. This is key for its long-term development and prosperity.
Matsuda noted that the market volatility in 2022 caused a great number of investors to withdraw their support for blockchain and NFTs, believing they should bring financial returns. According to Matsuda, the inclusion of blockchain technology in customer experiences will be very advantageous for the growth of the industry. This new direction promises customers an abundance of unique, exhilarating experiences that will drive further expansion and development.
Square Enix is working tirelessly to introduce blockchain-based games, some of which are already available. We anticipate more titles based on their original intellectual properties being released over the course of the upcoming year. Matsuda was optimistic about the potential of blockchain games in 2023, with all the setbacks of the past now behind us. He hopes that this could result in a favourable transition for the industry.
We plan to expand our Group further with an ongoing development & transformation that is self-sustaining. We will remain watchful in anticipation of the changes that will take place in the coming years and beyond.
Our aim is to make 2023 a memorable year of remarkable development and renovation. We want to use this as an opportunity to take our businesses ahead in a major way.
In an effort to increase their global presence, Square Enix are transforming their current setup of two largely separate entities into one unified organisation entitled ‘One Square Enix’. This will give them a broader reach and can open up many new opportunities. The goal of this move is to “capture as much of the upside as possible from the digital shift.”
