No matter the backlash the gaming giant believes in games made with new technology.
•Square Enix is focused on blockchain-powered gaming and plans to announce multiple games this year.
• Square Enix President Yosuke Matsuda wrote in his annual new year’s letter that the firm is “most focused” on blockchain gaming amid its new business development efforts.
• In November, Square Enix announced its first original game built around Ethereum NFTs, called Symbiogenesis. Set to launch this spring, it’s a “digital collectible art experience” with storytelling elements.
• Last May, Square Enix sold off three of its internal studios along with major franchises—including Tomb Raider and Deus Ex—to Embracer Group for $300 million. The publisher said that the sale would benefit its growing push into blockchain games.
Square Enix’s Pushes into Blockchain Gaming
Square Enix, the well-known video game developer and publisher, is revving up its focus on blockchain gaming in 2023. In his new year’s letter to the company, President Yosuke Matsuda declared that Square Enix would be announcing multiple original games based on blockchain technology this year. This comes off the heels of the launch of Symbiogenesis, their first original game built around Ethereum NFTs. Let’s dive into why Square Enix is making such a strong push into blockchain gaming and what benefits this could bring to both the company and the industry as a whole.
Square Enix President Yosuke Matsuda’s annual new year letter has revealed that the firm is “most focused” on blockchain gaming as a core part of its new business development. This focus on blockchain brings the capability for major changes in the gaming industry, offering a decentralized system of ownership and trading value that can significantly improve upon the current centralized system present in many online video games.
This could potentially make it easier to purchase assets, such as game currency or properties in multiplayer games, and cut out any intermediary fees over transactions. With blockchain technology, Square Enix can provide more secure control over players’ virtual identities and assets than ever before, so gamers are highly likely to take advantage of these benefits.
Square Enix’s Blockchain Gaming Initiatives
Symbiogenesis was released in late December 2022 and is described as a “digital collectible art experience” with storytelling elements. Players can buy and trade unique non-fungible tokens (NFTs) within the game or exchange them with other players outside of it using Ethereum wallets. The goal of Symbiogenesis is to create an engaging universe where players can discover hidden stories behind characters and objects while earning rewards for participating in its ecosystem.
In order to further invest in its blockchain gaming initiatives, Square Enix recently sold off three internal studios along with major franchises like Tomb Raider and Deus Ex for $300 million. This will help free up more resources to develop more sophisticated games powered by blockchain technology moving forward.
Benefits of Blockchain Gaming for Square Enix & the Gaming Industry as a Whole
Blockchain technology provides secure digital asset storage and ownership, leading to wider access points outside traditional gaming markets. This opens up opportunities within the gaming industry such as improved content security, player rewards, and tokenized virtual economies all enabled by blockchain tech. It also allows developers to create interactive experiences that are flexible enough to meet players’ ever-changing needs over time, engaging them for longer periods than single-player campaigns or traditional multiplayer games often provide. As we move deeper into 2023, we may see even more advancements within the gaming sector powered by blockchain technology become reality sooner rather than later.
Square Enix has made it clear that they are dedicated to advancing its blockchain gaming initiatives this year by investing significant resources into creating new titles powered by decentralized networks. By leveraging this emerging technology, they have opened up numerous possibilities from increased security measures to tokenized virtual economies that could benefit both themselves and the entire gaming industry as a whole over time. It will certainly be interesting to see what other advancements emerge from their commitment during 2023