The Japanese gaming big Square Enix has reasserted its dedication to blockchain gaming, asserting that it’ll proceed to develop blockchain, Web3, and NFT video games within the subsequent 12 months.
The agency, which created the Ultimate Fantasy sequence, issued an end-of-fiscal 12 months assertion this month.
Square Enix has confronted a livid backlash from many gaming communities for its blockchain pivot, which it first unveiled in early 2022.
The corporate’s turnover fell barely over the previous 12 months from round $2.7 billion presently final 12 months to about $2.5 billion.
It additionally misplaced virtually 1,000 workers members in the identical interval.
However regardless of a lukewarm reception for its NFT-related titles akin to Symbiogenesis, the corporate mentioned that it will proceed to focus on Web3 progress.
The agency known as its blockchain enterprise an “initiative” that “will achieve further growth.”
It defined that it needed to develop into a “pioneer” in Web3 gaming and would “continue to carry out investment activities globally.”
The corporate additionally claimed that the “acceleration of blockchain game development” was one in every of its “priorities” for the 12 months forward.
The agency has additionally lately launched an NFT recreation as a part of its long-running Million Arthur sequence.
Whereas this recreation has additionally been pilloried by the worldwide gaming group, Square Enix mentioned that it was having fun with reputation.
Square Enix mentioned that “more than 75%” of the NFTs it issued for the sport final month have been offered.
Some units have already offered out, it added.
The corporate mentioned that its title’s NFTs held the top-placed transaction rating by merchandise sort on the Line Blockchain protocol.
And the corporate mentioned that additionally defined that its Symbiogenesis venture was “still under development” with plans to “sell about 10,000 NFT artworks.”
Square Enix: Will Blockchain Gaming Pivot Succeed?
The corporate has beforehand mentioned that specializing in conventional types of gaming would “not be enough” for the corporate to thrive sooner or later.
The corporate’s President and CEO Yosuke Matsuda has beforehand talked of Square Enix’s need to “try its hand” at “providing autonomous game content.”
Matsuda additionally spoke of his plans to launch a cryptoasset.
However an obvious downturn within the agency’s fortunes might quickly be set to spark a regime change that will affect the way forward for Web3-related progress.
In March, Matsuda introduced he could be stepping down from his position in June this 12 months.
His alternative, Takashi Kiryu, beforehand labored at Dentsu Innovation Initiative – one other agency with Web3 credentials.
Dentsu struck a metaverse partnership take care of Microsoft final 12 months.
