Square Enix, the company behind the beloved Final Fantasy video game series, is doubling down on its focus on blockchain. Chairman Yosuke Matsuda said in an annual letter that he would commit to this strategy.

Square Enix, the developer behind popular game franchises like Final Fantasy and Dragon Quest, aims to continue its focus on blockchain. Chairman Yosuke Matsuda revealed in an annual letter that the company would explore opportunities in blockchain entertainment.

That includes increasing investment in blockchain technology. Matsuda said the company has “dedicated aggressive investment and business development efforts.” Square Enix’s decision to enter the blockchain space sparked a heated discussion in the gaming world, but the company remains committed to the idea. Matsuda stated,

“Looking externally, I think it’s fair to say that blockchain gained significant recognition as a field in 2022, as evidenced by the fact that ‘Web 3.0’ became a firmly established buzzword among entrepreneurs. However, the year also saw volatility in the cryptocurrency and NFT (non-fungible tokens) markets that followed the dramatic changes in the macroeconomy described above.”

He also referred to the Japanese government’s focus on encouraging web3 development. The government has created a department for this purpose and Square Enix believes that there are business opportunities here.

Square Enix is ​​already up to its neck in Blockchain and NFT

Square Enix’s efforts in the blockchain space have been well documented. The Japanese company has worked with both general blockchain technology and NFTs.

Among his efforts is the fact that he has partnered with Oasys to become a node validator. He also entered into a $50 million dollar deal with mobile developer and NFT Gumi. The company has also partnered with double jump.tokyo to work on NFT content.

His most high-profile incident last year was when he sold several of his IPs to invest more in blockchain technology. He made $300 million from this sale.

P2E gaming had a rough 2022, but interest remains

Play-to-Earn games have had a rough 2022, with several games crashing and some well-known ones seeing reduced interaction as well. Despite its growing popularity, the crypto winter was not kind to this niche. That’s why several major gaming companies have considered blockchain technology, though Microsoft gaming chief Phil Spencer urged caution.

However, interest in him remains high. A survey conducted by ZEBEDEE shows that 67% of respondents would be happy to play more games if they were rewarded with cryptocurrency. It also showed that the newer tokens and NFTs were popular with players.