Square Enix, creator of Final Fantasy, is willing to redouble its efforts in the development of blockchain games despite the current turmoil in the cryptocurrency market, according to a January 1 letter from company president Yosuke Matsuda.
The letter, titled “New Year’s Letter from the President”, it aimed to recap the company’s main achievements in 2022 and explain its plans for 2023. Of the 15 paragraphs, seven referred to blockchain gaming, proving that blockchain gaming is one of the main focuses of the investment strategy of the company for the future.
⚔An introduction to SYMBIOGENESIS ⒠⚔
Starting from today we’ll begin introducing Symbiogenesis, starting from the concept✨
Symbiogenesis is a new franchise by SQUARE ENIX, which brings real game utility âš” to 10000 collectible NFT artworks #symgeNFT #NFT pic.twitter.com/1ukBEgOmfv
— SYMBIOGENESIS (@symbiogenesisPR) December 21, 2022
Matsuda stated that the “blockchain-based entertainment” is the investment field his team will be most focused on in the medium term, to which they have devoted “aggressive investment and business development efforts.”
After summarizing the ups and downs of the cryptocurrency market between 2021 and 2022, Matsuda tried to make sense of the recent market decline. He stated that new technologies often cause “confusion”, but end up being accepted as a normal part of everyday life. Therefore, if there is turmoil in the cryptocurrency market, this should not necessarily make investors doubt its potential, he stated, adding:
“New technologies and frameworks lead to innovation, but they also create considerable confusion.”
Matsuda added that any technology that is able to navigate the “social tides” will gradually become part of people’s lives and eventually lead to new businesses and growth.
“Following the excitement and euphoria that surrounded NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space,” he pointed.
“However, if this proves to have been one step in a process leading to the creation of standards and a more transparent business environment, it will definitely have been for the sake of the growth of blockchain-based entertainment.”
It’s been an amazing year of games and 2023 is looking even better!â„ï¸
Here’s a message from all of us at Square Enix wishing you a Happy New Year!
ï¸ https://t.co/C9hdvi1GwZ pic.twitter.com/AOSRXdjizg
—Square Enix (@SquareEnix) December 31, 2022
Matsuda ended the letter by stating that Square Enix has multiple blockchain games in development and plans to announce more throughout 2023.
Square Enix made multiple moves into the blockchain gaming space throughout 2022. In July, it announced that it would release Final Fantasy VII collectibles on the Enjin platform. In September, he joined Oasys blockchain as a node validator. In December, Square Enix invested 7 billion yen ($52.7 million) in mobile game developer Gumi Games to help develop play-to-earn titles.
This recent letter implies that the company does not plan to stop its investments in the space in 2023, despite the market turmoil that occurred the previous year.
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