Square Enix CEO reveals plans for blockchain, metaverse, NFTs

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The wider adoption of non-fungible tokens (NFTs) and up-and-coming games may be underway as one of the world’s largest games companies sees them as the future of the industry.

Square Enix CEO Yosuke Matsuda revealed the company’s intentions for the blockchain and NFT spheres in his New Years post on Saturday. In his letter, Matsuda begins with a discussion of the Metaverse before noting that Facebook’s name change to Meta is proof that the concept is not a passing fad. He expects 2022 to be a year of hype for the Metaverse as society slowly begins to embrace virtual worlds and their ability to connect people across geographic boundaries.

He believes that extended reality (XR) technology, the increasing use of cloud computing and 5G will all lead to the existence of the metaverse. Discussing the concept, Matsuda wrote:

“As this abstract concept begins to take concrete shape in the form of product and service offerings, I hope it will bring about changes that will also have a greater impact on our business. “

It continues the same way on NFTs, then blockchain and gambling to win. Matsuda points out that 2021 was the “first year” for NFTs and the Metaverse, in which there were a lot of wild deals that didn’t always match market speculation.

Investments in blockchain continue to increase at a rapid rate, and some of the most committed to trying to legitimize blockchain technology have been companies in the gaming industry. Square Enix initially invested in the Metaverse by participating in a $ 2 million funding round for The Sandbox, an Ethereum-based metaverse game. Matsuda’s annual letter indicates that the company is doubling down on several developing technologies.

Related: Study: 58% of Video Game Developers Already Using Blockchain

Matsuda’s letter appears to be a reaffirmation of Ubisoft’s position that it will remain committed to its NFT / blockchain ambitions. Another big name in the gaming industry, Andrew Wilson, CEO of video game company Electronic Arts, agreed that NFTs and winning games are the future of gaming despite the fact that it is still early days to come. understand how they will work.