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Square Enix President Shares Plans to Expand into the NFT World
NFT News

Square Enix President Shares Plans to Expand into the NFT World

BTC Peers reporter
BTC Peers reporter

Yosuke Matsuda, president of Square Enix, has disclosed the company's New Year's resolve. Matsuda believes that 2021 has been a watershed year for NFTs and blockchain technology and that the firm will continue to shatter limits in the blockchain gaming sector in 2022.

Yosuke Matsuda, the president, has called 2021 the "Metaverse Year" in a New Year's message. While he did not explicitly address plans for NFTs in Square Enix games, he said that the firm would place a premium on monitoring metaverse gaming trends. In his message, he says,

"In 2022, the metaverse is projected to undergo a significant shift to a commercial phase, with the appearance of a diverse variety of services. As this abstract notion takes substance in the form of product and service offerings, I am expecting improvements that have a more significant influence on our company as well."

Square Enix is preparing for a new "medium-term business plan" that was first announced in May 2020 and aims to concentrate the firm on "AI, cloud, and blockchain games as new fields in which we should invest." By investing further R&D resources in the blockchain, the business hopes that increased knowledge will result in the creation of more User-Generated Content (UGC) in which players may contribute to the development of games.

Also Read: 2022 Will See Greater DeFi, NFT Regulations: Cardano Founder

According to Matsuda,

"Concerning the UGC, "UGC was founded simply based on people's desire for self-expression, not on the basis of any specific inducement to compensate them for their creative work. This, I believe, is one of the reasons why there has not been as much game-changing user-generated material as one would think."

While no official games or titles were revealed, Matsuda closed the letter by expressing his desire to introduce NFTs through Square Enix games to increase awareness of token economies in the gaming community.