Square Enix may be investigating NFTs and the metaverse

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Square Enix President Yosuke Matsuda released a new year letter to discuss the company’s future in gaming, and that apparently concerns NFTs and the metaverse. In a move that reflects other companies’ interest in these trends, Matsuda said Square Enix is ​​preparing to address these emerging technologies.

First he went into the metaverse concept:

“The Metaverse was a hot topic in 2021 and inspired a lively global discussion, first about what the Metaverse is and then about what kind of business opportunities it offers. With this in mind, Facebook changed its name to Meta in October, which is proof that the concept is not just a buzzword, it will remain. “

He proceeds in a similar way via NFTs, then the blockchain and play-to-earn:

“Last are blockchain games. Whether it’s single-player or online, games traditionally have had a one-way flow, with developers like us offering a game to the consumers who play them. In contrast to this, blockchain games that have outgrown their infancy and are currently entering a growth phase are based on the premise of a token economy and therefore have the potential to enable self-sustaining game growth. The driver that most enables such self-sustaining game growth is diversity, both in terms of the way people interact with interactive content such as games, and in terms of their motivation for it. Advances in token economies are likely to add further momentum to this trend of diversification. I see the “Play to Earning” concept that people are so excited about as a prime example. “

Matsuda appears to be taking stock of the latest trends and reassuring investors that Square Enix will be following them. When it comes to players, this is probably the most telling quote:

“I understand that some people who ‘play for fun’ who are currently the majority of gamers have expressed reservations about these new trends, and understandably so. However, I believe that there will be a certain number of people whose motivation is to “play to make a difference,” which I would like to help make the game more exciting. Traditional gambling has not offered any explicit incentive to this latter group of people, who were motivated solely by such conflicting personal feelings as benevolence and volunteerism. This fact has nothing to do with the limitations of existing UGC (User Generated Content). UGC was created solely because of an individual’s desire for self-expression and not because there was an explicit incentive to reward them for their creative endeavors. I see this as one reason why there wasn’t as much important groundbreaking content user-created as one would expect. “

The clearest vision he has for these emerging technologies is to provide greater incentives for people who create content for games. On the one hand, it’s a decent idea since a lot of user-generated content based games don’t offer anything to those who create them. And yet that doesn’t address the legitimate bad feelings that many have for anything to do with blockchain.

Yosuke Matsuda’s letter can be found in full here. Interest in NFTs now extends beyond Square Enix, there Ubisoft recently even launched its own NFT ecosystem. Opposition remains breastfeeding by many, however, as even Valve will put its foot on the ground and not allow crypto-related games steam.

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