Square Enix to Double Down on Blockchain and Digital Assets by 2023

3. January 2023

• Square Enix, a legendary gaming studio, announced that it will further explore blockchain technology and digital assets by 2023.
• In the past year, Square Enix has explored non-fungible token (NFT) initiatives, which have seen positive feedback and good reception.
• The company’s president Yosuke Matsuda committed to focusing on “blockchain entertainment” and Web3.

Square Enix, a legendary gaming studio, has revealed that it will double down on blockchain technology and digital assets in 2023. This announcement follows the company’s exploration of non-fungible token (NFT) initiatives in the past year, which have seen positive feedback and good reception. The studio’s president Yosuke Matsuda has committed to focusing on “blockchain entertainment” and Web3.

The motivation behind this move is rooted in the spike in sales from mobile games, which has been trending to the upside since 2020. The net sales revenue from smart devices and PCs has become a bigger part of the company’s contribution, compared to physical game versus digital game sales. As part of the expansion in the blockchain space, Square Enix will launch an overseas entity dedicated to “issuing, managing, and investing our own tokens” and publishing games in countries with “wide cryptocurrency acceptance.”

The company believes that blockchain can provide new opportunities to power up the gaming and entertainment industry. It enables a new way to transact with digital assets, create unique experiences, and foster the development of new business models. Square Enix also plans to explore blockchain-based projects that would allow gamers to freely trade and exchange their digital assets, as well as create their own unique in-game items.

Square Enix is already working on a number of projects, such as the Dragon Quest X game powered by blockchain technology and the recently launched NFT marketplace. The company is also working on a blockchain-enabled mobile game that allows players to earn rewards as they play.

Square Enix is no stranger to blockchain technology and digital assets. It has been actively involved in the development of the technology since 2018 and has worked with a number of well-known blockchain companies, such as ConsenSys and IBM. The company has also launched its own blockchain-based game, Rise of the Necromancer.

As the blockchain industry continues to grow, Square Enix is confident that it will be able to provide more ways for gamers and entertainment fans to experience the benefits of the technology. With its focus on blockchain entertainment and Web3, the company is sure to remain at the forefront of the industry.

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