Final Fantasy creator Square Enix is set to ramp up blockchain game development despite the turmoil in the cryptocurrency market, according to a January 1 letter from the Japanese company’s president, Yosuke Matsuda.
The letter, titled “New Year’s Message from the President,” aims to summarize the company’s major achievements in 2022 and explain its plans for 2023. Of the 15 paragraphs, seven were related to blockchain games, showing that blockchain games are a major focus. For the company’s investment strategy in the future.
Matsuda stated that “blockchain entertainment” is the area of investment that his team will focus more on in the medium term, as they have dedicated “relentless efforts to business development and investment.”
After summarizing the ups and downs of the cryptocurrency market in 2021 and 2022, Matsuda sought to understand its own decline. He said new technologies often cause “confusion” but eventually become accepted as a normal part of everyday life. So, if there is turmoil in the cryptocurrency market, it shouldn’t necessarily cause investors to be skeptical about its potential, he said, adding:
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“New technologies and frameworks lead to innovation, but they also create a great deal of confusion.”
Matsuda added that any technology that is able to transcend the “societal tides” will gradually become a part of people’s lives and eventually lead to new business emergence and growth.
“After the excitement and joy surrounding NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space,” he noted.
“However, if this proves to be a step in a process leading to the creation of a more transparent rules and business environment, it will certainly be in the interest of the growth of blockchain entertainment.”
Matsuda ended the speech by saying that Square Enix has several blockchain games in development and will announce more during 2023.
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Square Enix has made multiple moves in the blockchain gaming space throughout 2022. In July, it announced that it would be releasing Final Fantasy Collectibles on the Enjin platform. In September, she joined Oasys Blockchain as a node validator. In December, Square Enix invested 7 billion yen ($52.7 million) in mobile game development company Gumi Games, to help develop mobile games to earn.
This latest letter indicates that the company has no plans to slow its investments in space in 2023, despite the disruptions of 2022.