The president of Square Enix hopes that NFTs and blockchain gaming will become a major trend in the gaming industry moving forward. Clearly, he could not hide his enthusiasm for the blockchain space in the company’s new year’s letter.
Square Enix Global is a Japanese entertainment company and a mammoth in the gaming industry. Notable products include Final Fantasy, Dragon Quest, and Kingdom Hearts. Currently, one of the highly anticipated games, Forspoken, is available for pre-orders.
Opening the envelope
The president mentioned 3 key areas as the company enters 2022: AI, the cloud, and blockchain gaming. However, the third area dominated the majority of the letter. Square Enix is no stranger to the space and has recently released their own NFT collection.
In his brief statement, his ultimate goal is to achieve ‘decentralized gaming’. Ideally, this gaming model will have self-sustaining growth as opposed to traditional games. Blockchain gaming allows users to contribute to its existing content, where users are free to express their creativity within the game. User-generated content can make the game more exciting for a more diverse audience.
He also acknowledged the P2E model that exploded in 2021, featuring games such as Axie Infinity and Wolf Game. This model primarily utilizes NFTs to earn monetary rewards in the game. However, he understands that their existing audience are not inclined to adopt blockchain gaming just yet.
The gaming industry is experiencing rapid changes due to the growth of extended reality. This includes the cloud, 5g, and blockchain technology. The company opines that the metaverse and NFTs are in their infancy, and 2022 will see greater adoption.
The full new year’s letter can be accessed here.
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