As the new year begins, we are excited to see how NFTs will continue to grow and develop in 2023. Therefore, we are delighted to see that Square Enix, creators of the hugely successful Final Fantasy game series, intend to carry out ‘aggressive investment’ into blockchain and NFTs in the future. This comes from a New Years letter which was shared by the Japanese entertainment conglomerate and written by their President Yosuke Matsuda. In the letter, Matsuda outlines the major events which occurred in 2022, why they occurred, and what the future holds for 2023.
The letter was resoundingly positive about the future of NFTs in gaming. Matsuda argued that blockchain technology offers the opportunity to change from traditional gaming to a new model that is self-sustaining and decentralised. Furthermore, the letter confirmed that Square Enix was currently working to develop several blockchain games. Square Enix is part of a number of gaming giants investing in blockchain, with others like Sony also funnelling investment into NFTs.
This is bolstered by the efforts of the Japanese government, which has been a leader in embracing Web 3.0. This is evident from the creation of a Web 3.0 study group by Japan’s Digital Agency and was further reinforced in June 2022 when the Japanese Cabinet agreed to the ‘Priority Policy Program for Realizing a Digital Society’ which included the promotion of Web 3.0. These actions have likely stimulated investment in NFTs and blockchain technology in Japan, showing the role governments can play in nurturing Web 3.0 innovation.
Gaming companies, like Square Enix, recognising the potential of NFTs and blockchain technology will only serve to improve the gaming experience for consumers in future. Team Stratisphere is enthusiastic about the future of NFTs in gaming and will continue to watch Square Enix with particular interest.
