Square Enix is Still Investing in NFTs

Square Enix is one of the gaming companies that believe in NFTs. The video game giant began the New Year with a message from Yosuke Matsuda, the President of the company. The message showed how keen Square Enix was to venture into metaverse and explore NFTs.

The gaming giant was keen on experimenting with Non-Fungible Tokens and even tried integrating them into its video games. Even after backlash from the community, Square Enix wanted to explore the segment further.

In the latest financial report, the company has reaffirmed its intentions to pursue investments in NFTs. Along with the tokens, Square Enix wants to invest in AI, cloud, IP, and blockchain.

The company's first experiment with NFTs was the blockchain-based card battle game, Million Arthur. The first season of Shi‐San‐Sei Million Arthur was successfully concluded last month. Following this, the video game giant has decided to renew the game for a second season.

Commenting on the renewal, Square Enix said, “Encouraged by the results and feedback from our NFT business, we have decided to produce a second season,” in its presentation.

Square Enix further added, “Our plan is to incorporate game content into our service and to leverage the development and operational expertise we have amassed in our existing businesses to explore the potential of earnings structures, breadth of play, and NFT ownership experiences in the NFT business.”

The earnings presentation further revealed the company's plans to create a new NFT brand and IP. They will be researching blockchain games and their economy extensively. They also aim to focus more on “story-focused creatives” and “world building” for their blockchain game.

Square Enix has further backed this argument stating that the surge in streaming might positively influence the sale of digital assets. As more gamers may game without a console, the company believes “there is likely to be demand for gaming experiences only possible in a cloud environment and for the development of cloud-native games.”

With all the new-age trends in mind, Square Enix has “identified AI, the cloud, and blockchain games as focus investment areas under its business strategy and will engage in aggressive research and development efforts and investment in these areas.”

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