SQUARE ENIX: Blockchain Still off the Chain

A New Year's Letter from the President on the SQUARE ENIX Website has a message for gamers and investors from Yosuke Matsuda (thanks Forbes). 2022 saw an increasing skepticism from gamers about the promise of NFT and blockchain gaming, and many companies have backed away from such plans since his very similar new year message last year. In contrast, SQUARE ENIX is doubling down. The article begins by detailing the challenges to the industry in 2022 before pivoting to make the case that crypto is part of the solution, rather than part of the problem:
Multiple blockchain gaming events held overseas recently produced more active discussion than ever before about what makes the games exciting and what their user community looks like. The market was driven more by speculative investors than by gamers though 2021. In other words, the content that was at the forefront was created based on the premise that blockchain and NFTs should result in monetization. However, 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.

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 are also engaged in global sourcing from an investment perspective and will continue to take stakes in promising businesses whether we find them in Japan or abroad. Blockchain has been an object of exhilaration and a source of turmoil, but with that in the rearview mirror, we hope that blockchain games will transition to a new stage of growth in 2023.
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Re: SQUARE ENIX: Blockchain Still off the Chain
Jan 2, 2023, 17:02
Jim
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Re: SQUARE ENIX: Blockchain Still off the Chain Jan 2, 2023, 17:02
Jan 2, 2023, 17:02
Jim
 
I don't really care about NFTs as long as they are not doing any mining bullshit while the game is running. I guess they want a recurring revenue stream that will allow them to sell overpriced cosmetics and rarer "exclusive/limited" cosmetics. They probably see what steam is doing and wants that for their games, only without having to build a whole big infrastructure. I guess buying the games and maybe playing them will get you some worthless NFTs as an intro, but for more you have a choice of stores. And if the second market does well then that is another revenue stream. But the problem with the second market is that it is subject to pump and dump, like the whole trump NFT thing, that skyrocketed after launch, and then lost 98% of their value. I think they are still worth at original cost, but just buying any of this shit is stupid IMO, for a prettier character with bunny ears and a tail or stupid crap like that.
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Jan 2, 2023Jan 2 2023
Re: SQUARE ENIX: Blockchain Still off the Chain