Next year, Square Enix will release its first NFT blockchain game. Plans for the future show that Web3 games will still be on its list.
Square Enix's plan for NFTs and blockchain technology is not clear, but it looks like this idea will be useful for the foreseeable future.
Square Enix's recent Outline of Financial Results Briefing indicates that the company will continue its web3 plans. The intention was evident in the statement made by its current CEO and president, Yosuke Matsuda. He was answering a question during the Financial Results Briefing, back on February 3rd, 2023.
Matsuda Shares Square Enix NFT Games Plans
Square Enix CEO Yosuke Matsuda says that the company's new blockchain games will come out in the fiscal year 2023/24. But this news comes after the company's latest album, Forspoken, did not do as well as expected. The number of sales of the game was called "lackluster." Even with this setback, Square Enix is still optimistic about how well its blockchain games could do.
A reporter asked Matsuda about the company's growth plans for FY2024/25 during a Q&A session. Matsuda says that the big titles don't just come out during the fiscal year. He also added that the company has its release schedule in a way that includes a variety of new titles in FY2025/3 and beyond. Matsuda also says he hopes people will be excited about the blockchain games Square Enix plans to release in FY2024/25 and later.
Previous Popular Game Developers Attempt at Web3 Gaming
Several game companies, like Ubisoft, have tried out NFTs and blockchain technology in the past. With the announcement of Ubisoft Quartz in early 2022, Ubisoft's move into this area was one of the most well-known examples of a publisher looking into NFT technology. But the project lost steam after the first NFT game, Ghost Recon Breakpoint, came out.
But Square Enix's plan for its non-fungible tokens (NFTs) and blockchain technology is still not clear. No matter what happens, this idea is definitely here to stay in its long-term plans.
Dr. Disrespect, a popular streamer, recently called people who don't like NFTs "brain-dead headline followers" who don't see the potential of blockchain technology. Dr. Disrespect is currently making a game called Deaddrop that has to do with NFT.
Matsuda's answer started off well when he said Square Enix has a lot of new games coming out in the next few years. But his comment that the company plans to release blockchain games in the future is likely to be met with resistance from gamers. When blockchain gaming has been tried before, it has been met with hostility. So, if Square Enix goes ahead with this plan, it could lead to more questions about the future of the company.
Even though some gamers don't like the "play to win" business model, Square Enix is still getting into this market. Yosuke Matsuda said that Square Enix has a strong lineup of new games planned for FY2025/3 and beyond, which will help the company keep growing after the release of highly anticipated games like Final Fantasy XVI and the possible release of Final Fantasy VII Rebirth in FY2024/25. But he also said that the company planned to release blockchain games in FY2024/25 and later, and he hoped that people would be interested in them.
Matsuda, the New CEO and the Challenges ahead
Yosuke Matsuda has been the CEO of Square Enix for 10 years and has been promoting NFTs and blockchain technology for the past couple of years. He is now set to be replaced by Takashi Kiryu pending shareholder approval in June. The company says that the organizational changes are needed to try to come up with more new technologies. Kiryu, the new CEO, has only been with Square for a few years. Before that, he was a General Manager at the Dentsu Innovation Initiative, a business group that looked for opportunities in the metaverse and other places.
It looks like Square Enix has been having a lot of trouble lately. Its stock price has been going down for the past five years, and it has had trouble making successful games outside of its mobile gacha games and the Final Fantasy series. Even though the company tried to build on the success of the Final Fantasy VII Remake, Crystal Dynamics and Eidos Montreal recently left the company at a big discount. Square Enix is unhappy with how well third-party projects like Guardians of the Galaxy are selling. Also, it seems like some of its games don't get enough time, attention, or money to be fully successful.
It's certainly possible that Square Enix is looking to double down on new tech trends, including blockchain and NFTs, with the appointment of Takashi Kiryu as CEO. But it's also important to remember that the company has had some problems in recent years, like falling sales and trouble finding hits outside of its main series. Kiryu's history of looking into new technologies could help Square Enix find new ways to grow and succeed in Web3. But only time will tell how his hiring will change the overall strategy and direction of the company.
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