According to the creator of Final Fantasy, the year 2023 will mark a turning point for blockchain gaming.
The Japanese gaming firm Square Enix has said that it intends to roll out new titles throughout the year 2023 to make more inroads into the cryptocurrency games sector.
In a newsletter (1) for the new year that the CEO of the company, Yosuke Matsuda, sent out at the beginning of January, he acknowledged that the company's plans to delve into the blockchain space are advancing even though the overall decline in bitcoin price is dragging down the industry as a whole.
"Our Group has multiple blockchain games based on original IPs under development, some of which we announced last year, and we are undertaking preparations that will enable us to unveil even more titles this year. <…> We hope that blockchain games will transition to a new stage of growth in 2023," he explained.
However, Matsuda did not go into detail about the types of blockchain games anticipated to be released in the future by the business responsible for well-known games like Final Fantasy and Dragon Quest.
Taking Advantage of the Downturn in the crypto Sector
The CEO stated that a possible chance for convergence in decentralized gaming technology had presented itself due to the recent drop in crypto currency prices and the overall influence of the prevailing macroeconomic conditions.
Interestingly, Matsuda noted that the introduction of non-fungible tokens (NFTs) in the gaming market was characterized by speculation. The reduction in valuation provides a chance to investigate new use cases for these tokens. At the same time, he emphasized the significance of blockchain-based gaming while adhering to the ideals of decentralization.
"In the wake of the aforementioned turbulence in the cryptocurrency industry, there is now a trend to view blockchain technology as a mere means to an end and to discuss what needs to happen to achieve the end of delivering new experiences and excitement to customers. I see this as a very beneficial development for the future growth of the industry."
At the same time, the head of Square Enix remarked that the situation had intensified the clamor for regulation due to the instability and incidents, such as the collapse of the FTX exchange that has plagued the crypto currency and blockchain sector. In this passage, he points out that it is encouraging to see Japan taking steps toward unveiling systems to control the sector.
"If this proves to have been a step in a process that leads to the creation of rules and a more transparent business environment, it will have been for the good of the growth of blockchain entertainment," he wrote.
Blockchain and Square Enix
It is important to point out that back in 2021, Square Enix made their intention to use blockchain technology in their operations public. For instance, the organization debuted (2) an NFT powered, interactive experience called Symbiogenesis.
It is important to note that Matsuda has, for the most part, advocated for the incorporation of Web3 technology into the entertainment and gaming industries. The international gaming business is becoming more open to new technological developments, particularly in sub-industries such as Metaverse games.