Japanese Gaming Giant Square Enix to Expand Web3 commitments in 2023

• Blockchain Council
• September 17, 2024

Square Enix, a Japanese gaming giant and the house of the renowned Final Fantasy franchise, has reassured the crypto community with rigid intentions of not abandoning its Web3 aspirations in 2023. Square Enix President Yosuke Matsuda wrote in a new-year letter that the company plans to escalate its developments and builds in 2023.

He revealed that Blockchain entertainment is the company’s main focus and has made “aggressive investment and business development efforts” in the space. Despite the volatility in the NFT ( non-fungible token) and crypto markets in 2022, Matsuda noted that Blockchain saw a boost in recognition, particularly in Web 3.0, which became a “firmly established buzzword among businesspeople.”

Japan, where Square Enix is based, has taken an open stance towards the growth and development of Web3 technologies like Blockchain, with Prime Minister Fumio Kishida announcing last October that the country plans to boost the use of Web3 services and technologies by utilizing metaverse and NFTs.

Matsuda’s letter emphasized the importance of Blockchain gaming operating on an innovative, self-sustaining and scalable decentralized model.

Furthermore, he also noted that the 2022 turmoil has pushed out speculative investors, leading to a trend of viewing Blockchain technology as a means to an end and discussing how to deliver new experiences and excitement to customers. 

Matsuda said Square Enix already owns the credit of launching multiple Blockchain games based on original IPs in development and will continue their efforts in building and unveiling more titles over the next year.

He added that while Blockchain has been “an object of exhilaration and a source of turmoil,” he hopes Blockchain games will transition to a new growth stage in 2023. To capture as much of the upside as possible from the digital shift, Square Enix plans to form a single global organization called “One Square Enix” and move away from the current model of having its Japan-based and Western publishing organizations operate independently of each other.

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