Square Enix President goes all in on NFTs after claiming gamers hate them

The “crypto-revolution” isn't going well in the land of video games. While Metaverse games like Sandbox and Decentraland are doing well, traditional video game developers — such as Ubisoft — are not finding the same success. Nevertheless, yet another AAA company is attempting to jump on the blockchain bandwagon: Square Enix.

Square Enix commits to NFTs

In an open letter on New Year's, Square Enix president Yosuke Matsuda explained that the company is looking into multiple forms of blockchain technology. For example, not only is Squenix looking into NFTs, but also Metaverses and Blockchain Games.

Additionally, Matsuda explained that he understands gamers are not interested in NFTs in video games. With many crypto-focused games revolving around Play to Earn — essentially turning games into second jobs — players are turned away.

Matsuda said: “I realize that some people who 'play to have fun' and who currently form the majority of players have voiced their reservations toward these new trends, and understandably so.”

However, the Square Enix president explained that the company is still going to be investing in Metaverse, NFTs and blockchain games. In fact, he explains the company is “aggressive in R&D efforts and investments in those areas.”

Read More: Metaverse real estate is already skyrocketing in price

PSX 20220103 125948
expand image

At the forefront of blockchain games

Matsuda explained that Square Enix is going to be at the forefront of blockchain gaming. Instead of merely dabbling in NFTs, the Japanese company is going all in. Powered by cryptocurrency tokens, Matsuda wants the company to create games that are self-sustaining while also bringing in massive profit.

He said:

“With advances in token economies, users will be provided with explicit incentives... creating a tangible upside to their creative efforts. I believe that this will lead to more people devoting themselves to such efforts and to greater possibilities of games growing in exciting ways. It is blockchain-based tokens that will enable this. By designing viable token economies into our games, we will enable self-sustaining game growth.”

However, gamers have started to revolt against these technologies encroaching into gaming. After a decade of greedy business practices infecting gaming and making games worse, gamers are not going ready to tolerate another era of unwelcome businesses.

This Article's Topics

Explore new topics and discover content that's right for you!

Have an opinion on this article? We'd love to hear it!