Square Enix President Yosuke Matsuda Expressed His Enthusiasm for Blockchain and NFT Games

Square Enix, the publisher behind the popular Final Fantasy series, is continuing to invest in blockchain games and believes that recent market volatility can ultimately be beneficial to its plans. In its New Year letter for 2023, Square Enix President Yosuke Matsuda said that the company remains focused on blockchain entertainment and that changes in the macroeconomy and potential regulations could lead to the growth of blockchain games.

Square Enix first declared support for blockchain entertainment in 2021 and has since been developing games using blockchain and NFTs (non-fungible tokens). In its New Year letter, Matsuda noted that although the cryptocurrency and NFT markets saw dramatic shifts in 2022, this volatility could ultimately benefit the growth of blockchain entertainment. He cited the Japanese government’s ‘Priority Policy Program for Realizing a Digital Society’, which was signed off in June 2022 and aims to promote the use of NFTs based on this technology.

Despite the turbulence of the year, Matsuda believes that the process of creating rules and a more transparent business environment for blockchain entertainment will be beneficial for its growth.

Matsuda also acknowledged that speculation and monetization opportunities were the primary driving forces behind blockchain games in 2021. However, with an increased amount of discussion among the general public, he believes that blockchain gaming could be steered toward a more consumer-friendly direction.

He believes that the blockchain gaming scene is transitioning from being led by speculative investors to being driven by the public. This has resulted in more active discussion about what makes the games exciting and what their user community looks like. The content that was at the forefront was created with the intention of monetizing blockchain and NFTs, but now the focus is shifting to making games that are more enjoyable for the players.

However, Matsuda also warned about the dangers of blockchain technology if it is not managed properly. He cautioned that blockchain technology can easily be abused if it is not used responsibly, leading to confusion and chaos. He urged for a more transparent business environment that can protect users from potential scams and other malicious activities.

Conclusion

Square Enix's commitment to blockchain and NFT games shows its dedication to taking advantage of the technology and creating a more transparent business environment for gamers. Despite the volatility in the blockchain space in 2022, Matsuda believes that the lessons learned and likely regulation to come could benefit their plans for 2023 and beyond. He believes that greater discussion among the general public could help to create content that is more appealing to consumers.