Square Enix, one of the biggest game companies globally, is getting ready for future activities related to blockchain and NFTs. The company sees these technologies as the game industry’s future and believes that the metaverse will become more widespread by 2022. Indeed, Square Enix’s power in the gaming world could make it a pioneer in transforming traditional gaming companies.
Square Enix CEO Yosuke Matsuda announced the company’s intentions for blockchain and NFT in his New Year’s message on January 1, 2022. The experienced CEO said that Facebook’s name change to Meta is proof that this concept is not temporary.
On the other hand, CEO Matsuda also touched on some of the discussions regarding the metaverse. Matsuda thinks that society will embrace the metaverse quickly, realizing the virtual worlds and the power of these technologies to bring people together. He thinks that the adoption process is likely to accelerate in 2022.
Expressing that the spread of augmented reality, cloud, and 5G technologies will lead to the existence of metadata, Matsuda says:
“As this abstract concept begins to take concrete shape in the form of product and service offerings, I am hoping that it will bring about changes that have a more substantial impact on our business as well.”
Indeed, the number of devices using 5G technology is expected to increase by 2024. Strong infrastructures open up new possibilities for developers. We can already see the reflection of these infrastructures on technologies such as metaverse, blockchain, and NFT.
Regarding NFT, Matsuda sees 2021 as the first year of NFT and the metaverse. This first year complains about the wild increase in scam attempts. People need to be wary of scams in this technological age.
The number of blockchain investments is growing rapidly. The game industry leads other industries that try to legitimize this technology and ensure that people adopt it. News of NFT, metaverse and blockchain gaming is coming back and forth, and the pool is expanding. Square Enix also supported this industry by participating in a $2 million funding round for The Sandbox, an Ethereum-based metaverse game. As can be understood from the message of CEO Matsuda, the company is satisfied with these investments and continues its work.
Companies such as Ubisoft, Electronic Arts (EA) are also turning to and supporting blockchain. EA CEO Andrew Wilson also agrees that NFTs and the play-to-earn system are the game industry’s future. Play-to-earn, metaverse, and blockchain are also becoming commonplace among traditional companies, although there are still doubts about how these systems will work.
