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HomeNFTAfter A Bad Year For NFTs, Square Enix Boss Says Company's Still...

After A Bad Year For NFTs, Square Enix Boss Says Company’s Still All In For Them

The screenshot shows a large holographic man towering above the Final Fantasy character.

one year agoSquare Enix President Yosuke Matsuda said NFTs (Non-Fungible Tokens) and blockchain games are the future. It turns out that all this digital JPEG ownership is a scam and continues to be largely ignored by the public. this, Matsuda and Square Enix have not given up on NFTs and blockchain games. In fact, the company appears to be focusing on “blockchain entertainment” for his 2023.

Note: NFTs are digital items that you don’t actually own. Instead, you can buy a receipt that shows you outright own the ape photo or whatever, collect it, and one day resell it for a big profit.but you probably not earn Selling expensive NFTs completely collapsedIt turns out that an overpriced jpeg is not a stable investment. who could have guessed? (Millions of people did.) Anyway, Square Enix an almost universal public backlash NFTs or A giant cryptocurrency exchange went bankrupt overnight Discourage Japanese publishers from continuing to invest heavily in ‘Web 3.0’.

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In a New Year’s open letter issued on January 1,Matsuda said that Square Enix invests in various business areas, but “is most focused on blockchain entertainment.” In the letter, he uses buzzwords and an empty soup of ideas to paint a picture that instead of dying or collapsing, blockchain technology is actually growing and becoming more popular. One piece of evidence cited by the Square Enix president is that Web 3.0 has become “an established buzzword among business people.”

Following the very brief mention of Massive FTX Bankruptcy It happened in November. $32 Billion Crypto Exchange Explodes Overnight And, in the process, nearly destabilizing the entire market — Matsuda has dealt with continued resistance to NFTs and blockchain technology. He suggested that new technology often causes “chaos” at first before people accept it.

“Technologies and mechanisms that have overcome these social trends are gradually becoming part of people’s lives, giving rise to new businesses and growth,” explains Matsuda. “Following the excitement and exhilaration surrounding NFTs and the Metaverse in 2021, 2022 has been a year of great volatility in blockchain-related fields. If it proves to be, it would definitely be good for the growth of blockchain entertainment.

read more: Square Enix’s Final Fantasy VII NFT Is A Ridiculous Little Thing

The Square Enix president wrote a similar letter in 2022, but it was widely publicized by many online.Critics of his vision for the company were particularly displeased with parts of the letter in which Matsuda spoke of people “playing to contribute” rather than just playing games for fun. But a few months later, in April 2022, Yahoo, Square Enix’s Boss Won’t Back Down We continued to predict that the future of gaming would include NFTs and blockchain.

and like last yearMatsuda offered concrete or even vague plans for how NFTs or blockchains would improve video games, or how the technology would offer new options for developers and players. Instead, Matsuda only says the company has “multiple” blockchain-powered games in development. previously announced symbiosis formationExcited, huh?

“Blockchain has been a subject of excitement and a source of confusion,” summed up Matsuda.

It should come as no surprise that Square Enix remains as focused on NFTs as it was last year. Publisher sold three game studios—Crystal Dynamics, Eidos Montreal, Square Enix Montreal — to further fund future investments in blockchain technology, AI and cloud gaming for the monolithic Embracer Group and all.

Meanwhile, Square Enix has spent the last six months or so End of various online games include Autumn of Babylon When final fantasy VII battle royale spin off first soldierWith the company pushing to include NFTs in future titles, I’m sure we should be concerned. prize…

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