Multinational Gaming Giant, Square Enix, has once again shared his thoughts on the coming year in an open letter. This time, company president Yosuke Matsuda has redoubled the company’s support for Web3 technology and NFTs.

The past year presented many challenges for NFT projects, collectors, and fans. Yet despite the rocky road and growing unease, companies like Square Enix are staying the course with Web3.

The company, The Square Enix Group, includes a global network of leading development studios located in Japan, Europe, and also in North America. “The Group has a valuable intellectual property portfolio including: FINAL FANTASY®, DRAGON QUEST® and the legendary SPACE INVADERS®.

In addition, almost half of the New Year’s letter reiterates the company’s devotion to the Web3 and NFT projects. The letter left many fatality dealers wondering about the reasoning behind the continued support.

Why the continued focus on Web3 projects?

In the letter, Matsuda dismisses the struggles of the NFT market by referring to the challenges of 2022 as part of the volatile market.

“After the excitement and jubilation that surrounded NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space. However, if this proves to have been one step in a process leading to the creation of rules and a more transparent business environment, it will definitely have been for the sake of the growth of blockchain entertainment.”

Finally, it’s clear from Square Enix’s New Year’s letter that Matsuda sees great promise in NFTs and the Web3 space ahead. 2023 is sure to be fertile ground for projects from avid supporters of blockchain technology, such as Square Enix.

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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.

Writer and author who enjoys simplifying the topics of blockchain technology.