Square Enix is launching a new initiative to help put the company on top of blockchain games. Square Enix will be giving out up to $20 million in prizes, including cash and game development contracts, for its biggest gaming innovations as it looks towards putting more emphasis into blockchain-powered games this year. The announcement comes just a day before the release of “Tekken X Street Fighter.”
Square Enix has announced that it will be focusing on blockchain games in the first quarter of 2019. The company is also launching a new cryptocurrency called “NFT”.
Square Enix President Yosuke Matsuda announced the company’s ambitions to concentrate on adding blockchain-based games into its portfolio in his New Year’s letter.
In addition to supporting blockchain games, the large publisher said that it is keen to engage in upcoming trends such as NFTs and the Metaverse.
Gaming that is not centralized
Despite the fact that Square Enix has yet to announce any games that use blockchain technology or NFTs, the letter disclosed the publisher’s intention to investigate the concept in 2022.
“We will allow self-sustaining game growth by building sustainable token economies into our games.” “I hope that this becomes a big trend in gaming in the future,” Matsuda said in the letter, “since it is exactly this kind of ecology that sits at the core of what I refer to as “decentralized gaming.”
“If we call the one-way interaction between game players and game providers “centralized gaming” to contrast it with decentralized gaming, then bringing decentralized games into our portfolio alongside centralized games will be a big strategic focus for us beginning in 2022,” he said.
While acknowledging that the necessary technology infrastructure currently exists, Matsuda also stated that “societal knowledge and acceptance of crypto” has increased in recent years.
“We’ll keep a careful watch on social trends in this sector while listening to the different groups of people that inhabit it,” he said, “and scale up our efforts to establish a company appropriately, with an eye toward perhaps releasing our own tokens in the future.”
Metaverse and NFTs
Although individuals who play games for enjoyment have “expressed their worries” about NFTs, Matsuda predicts that “a certain number of people whose goal is to play to give” will emerge, and that “conventional gaming has supplied no clear incentive to this latter set of people.”
For both NFTs and the Metaverse, 2021 was “Year One,” according to him.
“By 2022, the metaverse will have made a significant shift to a commercial phase, with a broad variety of services emerging.” “I’m hopeful that when this abstract notion takes life in the form of product and service offerings, it will also bring about changes that have a more significant influence on our company,” he said.
According to the reaction on social media, Matsuda’s letter was not well welcomed by the gaming community.
Square Enix really stated “Happy New Year” and immediately began talking about NFTs. Bruhhhhhhh. pic.twitter.com/CjRvcxFRCv
January 1, 2022 — Miraculous Maku (@RedMakuzawa)
I really hope the NFT doesn’t switch to FF14 from FFXIV.
Despite the enormous popularity of blockchain-based games in 2021, the gaming industry has shown to be resistant to new trends, with even Edward Snowden recently denouncing NFTs for “creeping into games.”
After the video game publisher introduced Quartz, a new platform for players to earn, acquire, and exchange NFTs in the form of so-called ‘Digits,’ Ubisoft’s debut into the NFT gaming business didn’t go over well, either.
Meanwhile, in the face of widespread criticism, Discord scaled down its Web3 aspirations and abandoned plans to integrate Ethereum and NFTs into the network.
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Square Enix has started the year focusing on blockchain games. Ubisoft is also starting to explore blockchain technology with their new game, “Ubisoft NFT”. Reference: ubisoft nft.
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