The Square Enix boss is going all-in on Blockchain, teasing several upcoming games

Square Enix president Yosuke Matsuda used to deliver a generic New Year’s speech to investors and consumers alike on January 1st. Last year, Matsuda said that blockchain technology can enable self-sustaining game growth and enhance user-generated content (UGC). This year, despite the many setbacks for blockchain and NFTs in the gaming space (and beyond), the head of Square Enix announced in no uncertain terms that the Japanese company is focused on developing blockchain-based entertainment. More games using blockchain technology will be announced in 2023.

In terms of new business areas, we have named three focused investment areas within our medium-term business plan. Among these, we focus more on blockchain entertainment, which we have devoted unremitting efforts to business development and investment. Looking outward, I think it’s fair to say that blockchain has gained significant recognition as a field in 2022, as evidenced by “Web 3.0” becoming a well-established buzzword among entrepreneurs.

[…] Our group has several blockchain games based on original IPs in development, some of which we announced last year, and we are making preparations that will enable us to unveil more titles this year. We are also engaged in global sourcing from an investment perspective and will continue to participate in promising businesses whether we find them in Japan or abroad. Blockchain has been an object of delight and a source of disruption, but even so in the rearview mirror, we hope that blockchain gaming will move into a new phase of growth in 2023.

To be honest, Square Enix is ​​going to have an uphill battle in this area as blockchain has yet to prove itself useful in any meaningful way in the gaming space. In addition, most players now take a fiercely hostile stance against NFTs and the like.

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We’d much prefer it if Square Enix decided to focus on cloud gaming, as president Yosuke Matsuda hinted a couple of years ago, but those plans seem to have died out for the time being.

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