- We have an interesting piece of news for you. What is it? A well-known name in the video gaming industry, Square Enix is investing in decentralized blockchain games, as per a letter that was published by the President of the gaming company, Yosuke Matsuda. He has also talked about NFTs and Metaverse and has called 2021 the “Year One” for these technologies.
- Do you want to know more about what we touched upon above? If yes, you need to read this blog post till the end.
- In this post, we will be covering everything you need to know about the piece of news and that is Square Enix is investing in decentralized blockchain games.
Square Enix is investing in decentralized blockchain games
- Although blockchain features, as far as infusing them in games is concerned, have not been highly regarded. However, they have been backed by the President of Square Enix, Yosuke Matsuda. In a letter published by Matsuda, mention has been made of the fact that Square Enix is investing in decentralized blockchain games as he calls decentralized blockchain games “a major strategic theme” for Square Enix starting from 2022. Although Matsuda has not mentioned titles of games, he has hinted at Square Enix’s future games incorporating decentralized blockchain technology.
- In addition to the fact that Square Enix is investing in decentralized blockchain games, the letter also mentions incorporating token economies by Square Enix for fostering self-sustaining game growth. Matsuda acknowledged the fact that many will be apprehensive about the incorporation of decentralized blockchain technology in games. However, he has faith in some gamers who will “play to contribute”. How is blockchain going to help players? It will allow them to develop their own content rather than depending on “goodwill and volunteer spirit” as per Matsuda. In other words, users will be interested in developing content for rewards.
- While announcing the news that Square Enix is investing in decentralized blockchain games, Matsuda hasn’t made any announcements regarding plans for incorporating NFTs in the games of Square Enix. However, he had hopes of NFTs becoming mainstream with passing time. Players may even be able to purchase NFTs inside Square Enix’s games in the future. But, there has been no official announcement.
- Square Enix is investing in decentralized blockchain games now but will be observing trends in the market carefully so as to build strategies accordingly. Matsuda even says that Square Enix may issue its own tokens in the future and this statement fills the players’ minds with optimism. Only time will tell if the market is favorable for the same.
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- He says the ecosystem of token economies as far as games are concerned, lies at the core of “decentralized gaming” and it has the potential of becoming a huge trend in the coming years. Square Enix President also says that although Square Enix is investing in decentralized blockchain games that does not mean it will not continue investing in centralized games. It will do that too. He further says that there exists the required infrastructure for crypto technology but society has also slowly learned to embrace crypto.
- It is to be noted that although Square Enix is investing in decentralized blockchain games, there has been a rapid rise in investments in blockchain technology. Among the companies, who are hell-bent on legitimizing blockchain, are the gaming companies. Square Enix had already invested in the metaverse before. Yes, that’s true. It did so by participating in a $2 million funding round for the game, The Sandbox. The Sandbox is a metaverse game based on Ethereum technology. Matsuda further says that Square Enix’s investments in other evolving technologies are going to double in the future.
- The fact that Square Enix is investing in decentralized blockchain games, itself reaffirms the position of Ubisoft which has said that it will be committed to its ambitions related to NFT and Blockchain. Andrew Wilson, the CEO of Electronic Arts, another video gaming company has also said that the future of gaming lies in NFT and play-to-earn games. However, the ways they will work cannot be determined at this stage.
- We hope you are now aware of everything that you need to know about the big news related to the gaming industry and that is Square Enix is investing in decentralized blockchain games.