Square Enix is ​​(unfortunately) still being tempted by NFTs and blockchain and has a big 2023 ahead of it.

2023 could be a harbinger of great projects for our industry and is not immune to a few dark spots. Despite the good news that seems to be looming around the Final Fantasy license, Yosuke Matsuda, president of Square Enix, decided to undermine our morale with his letter of wishes for 2023 (even if it is primarily intended for investors). Remember, in 2022, this person showed a lot of interest in Web3, NFT, and blockchain. In other words, sectors whose bubble of expectations has been largely broken in recent months, resulting in numerous failures and bankruptcies. However, for 2023, Matsuda insists and signs: Square Enix breaks headlong into this market.

When we explicitly deny

Even if he admits in his letter that the second half of 2022 was a bleak year for the market, with several companies failing miserably, in a few paragraphs he reiterates his desire to explore the opportunities offered by these new technologies, driven by the idea that Japan is encouraging the development of the latter. :

“As for new business areas, we have named three medium-term priority investment areas. Of these, we are most focused on blockchain-related entertainment, to which we have devoted active investment and business development efforts. Looking from the outside, I think it’s fair to say that blockchain has gained significant acceptance as a field in 2022, as evidenced by the fact that “Web 3.0” has become a widely used buzzword used by business people. […] After the excitement and excitement that surrounded NFTs and the metaverse in 2021, 2022 has been a year of high volatility in the blockchain space. However, if it turns out that this was a step in the process that leads to the creation of rules and a more transparent trading environment, it will certainly benefit the development of blockchain entertainment. »

Matsuda reiterates that his desire is to create new experiences with these technologies, not to achieve a real monetization model (yes, of course), as he admits that this idea collapsed in 2022. He then points out that Square Enix is ​​running. on several related projects and promises an important 2023 in this area:

“Our group is developing a number of blockchain games based on original licenses, some of which we announced last year, and we are in the process of preparing to release even more games this year. We also intend to invest in this area and will continue to develop promising companies, whether we find them in Japan or abroad. Blockchain has been a subject of admiration and a source of turmoil, but with that in the rearview mirror, we hope that blockchain gaming will enter a new phase of growth in 2023.”

The President of Square Enix is ​​likely referring to Oasys, the new blockchain the company backed last September, in addition to many other publishers such as Sega, Bandai Namco or Ubisoft. Don’t forget Symbiogenesis, the NFT project announced to everyone’s surprise when everyone was waiting for the return of the Parasite Eve (because we clearly have no right to happiness).

While Matsuda obviously promises a lot of great things for the more traditional business sector, the fact that the NFT and blockchain market still occupies such a high place in his wishes is enough to make us take a deep breath of disappointment.

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