Final Fantasy Editor Last year the company is committed to creating blockchain and NFT games. Later in 2022, he announced plans to sell NFTs As part of what he calls the “first digital collectible art project designed from the ground up for Web3 fans”.
In a new letter discussing his plans for 2023, the President of Square Enix Japan’s Priority Policy Program for Realizing a Digital Societya plan signed in June 2022 regarding the promotion of the Web 3.0 concept, including the use of NFTs based on blockchain technology.
“New technologies and new frameworks drive innovation, but they also create considerable confusion,” he wrote. After overcoming these social tides, some of these technologies and frameworks gradually become part of people’s lives, eventually giving rise to new businesses and growth.
“Following the excitement and elation that surrounded NFTs and the metaverse in 2021, 2022 has been a year of high volatility in the blockchain-related space. However, if this turns out to have been a milestone in a process that leads to the creation of rules and a more transparent business environment, it will certainly have been for the good of the growth of blockchain entertainment.
Matsuda concluded by acknowledging that much of the discussion around blockchain games has previously been investor-driven and as such focused on the monetization opportunities the technology could unlock.
He argued that increased discussion among the general public and lessons learned from recent market turmoil could now steer the blockchain game in a direction that is ultimately more appealing to consumers.
“Several overseas blockchain gaming events have recently produced more active discussions than ever about what makes games exciting and what their user community looks like,” he wrote.
“The market was driven more by speculative investors than by gamers until 2021. In other words, the content that was at the forefront was created based on the principle that blockchain and NFTs should drive a monetization.
“However, following the aforementioned turmoil in the cryptocurrency industry, there is now a tendency to view blockchain technology as more of a means to an end and to discuss what needs to happen to achieve the end of providing new experiences and excitement to customers.” . I see this as a very beneficial development for the future growth of the industry.
Square Enix has several blockchain games based on original IP addresses in development, some of which are already announced and more are expected to be shown this year.
“Blockchain has been an object of elation and a source of turmoil, but with that in the rearview mirror, we hope blockchain gaming will take another stage of growth in 2023,” Matsuda wrote.
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