Square Enix Reaffirms Commitment To Blockchain Gaming, Despite Crypto Winter

The so-called “crypto winter” has cooled interest in the blockchain world over the past six months, but some are still enthusiastic about the technology. The latter group includes Square Enix President Yosuke Matsuda, who once again used the company’s annual New Year’s letter to reconfirm his strong interest in the role of crypto and blockchain in gaming.

In the letter, Matsuda named “blockchain entertainment” as the area the company is most focused on in 2023, noting that blockchain “gained significant recognition as an area in 2022,” with Web 3.0 in the lead. as a concept. However, Matsuda also notes “volatility” in the crypto and NFT markets, including the surprise collapse of FTX, which was once considered one of the most promising players in the space.

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Matsuda strikes an optimistic note, saying that if the market is further driven by investors in 2021 due to soaring crypto prices, the continued “turbulence” in the industry should cause developers to consider blockchain as a way forward. to arrive at an end, rather than the end in itself. It also confirms that Square Enix has several blockchain games in development.

While it is likely that the current crypto winter will eventually end, consumer interest in NFT or blockchain-based games has been limited in the past, even successful examples like Axie Infinity have not succeeded. to generalize. As such, even if the crypto bubble inflates again, traditional gaming companies like Square Enix have a tough climb ahead of them.

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