Square Enix doubles down on blockchain by 2023

After the crypto market showed downward trends during the second half of 2022, it seemed that large corporations would withdraw their support for the industry, but this was not the case.

In contrast, the Square Enix studio doubled down on its commitment to blockchain technology and is confident that the volatility experienced by the cryptocurrency market is “favourable”.

The company’s president, Yosuke Matsuda, stated that this technology would remain a major focus for Square Enix. The reason? Matsuda is confident that large cons and volatility demand better regulations, and that would mean a more solid ground for game development with these developments.

“In terms of new business domains, we named three focus investment fields in our medium-term business plan. Among them, we are most focused on Blockchain entertainment, to which we will continue to devote aggressive investment and business development efforts.”

With these statements, Matsuda shared his stance to try to encourage the Japanese government to support and invest in Blockchain technology. Unlike other countries that stopped supporting or participating in these developments.

“After the excitement and jubilation surrounding 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 a step in a process leading to the creation of rules and a more transparent business environment, it will definitely have been for the good of the growth of blockchain entertainment,” concluded Matsuda.

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