Square Enix, one of the biggest developers and publishers in the gaming world, has acknowledged the importance that NFTs and blockchain gaming could have for the future of the company. In its last briefing, Square Enix envisioned a “solid entry” into the blockchain gaming industry as part of its mid-term strategy process.
Square Enix to Enter Blockchain Market
Square Enix, developers of popular gaming franchises such as Final Fantasy, Dragon Quest, and Kingdom Hearts, has revealed intentions of expanding its business model to now tackle the blockchain gaming market. The company made the remarks during its last earnings briefing on November 5, where Square Enix said it would make a ‘solid entry’ into the blockchain gaming arena as part of its strategy process. medium-term commercial.
In the briefing, Square Enix recognized the change in attitude gamers are experiencing, wanting to have more control over the universe with which they interact. Additionally, the company states that the gaming world is moving towards a decentralized model, and the token economies of each game are taking hold and expanding. The presentation in the briefing said:
In addition to the sort of content creation we have traditionally engaged in, we will focus on blockchain games premised on token economies as a form of decentralized content.
Successful NFT proof of concept
A company as large as Square Enix, however, can’t just dive into a new market without doing some sort of testing first. It turns out the company has already released an NFT drop based on a franchise called Million Arthur, launched back in 2012, and has been featured in manga and mobile games mostly in Japan. The company said it was a proof of concept and was successful in combining the NFT market with one of its franchises.
The experiment managed to sell its whole press in less than a month, having launched on October 14th. With the proof of concept now complete, the initiative should move into the full commercialization phase. This means that we might see NFTs of famous franchises from the company such as Final Fantasy and Kingdom Hearts.
Square Enix is the third major games company to show interest in blockchain games in less than a month. Ubisoft and Electronic Arts are also interested in the potential of these alternative technologies as part of the new concept of a more decentralized gaming panorama.
