- Square Enix’s ambitions are detailed in a new letter from Yosuke Matsuda.
- According to Matsuda, the metaverse will be available for purchase in 2022.
- NFTs are also a huge financial possibility for him.
Square Enix Leader Yosuke Matsuda sent out a New Year’s signal designed to reflect on the previous year and the gaming industry’s future in 2022, and if his words are any indication, the metaverse, non-fungible tokens (NFTs), blockchain games, and digital token-based economies are all “here to stay” throughout 2021. Starting with the metaverse, Matsuda claims that Facebook’s choice to rename itself, Meta, proves that the notion “is not just a term.”
According to Matsuda, the metaverse will become a more commercial product in 2022 and may have some application for Square Enix inside the long term.”In 2022, the metaverse will most certainly make a significant move to a business phase, with a large range of services being available. I’m hopeful that when this abstract notion begins to take life in the form of product and service offerings, this would also bring up developments that seem to have a greater influence on the overall organization “Matsuda explained.
NFTs, according to Matsuda, would become a big business potential. Many “play-to-have-fun” players, according to Matsuda, are really not particularly enthralled with NFTs and metaverses. He believes, nevertheless, that NFTs and metaverses aren’t really designed for these.
However, he thinks that advances within those domains will provide stronger opportunities the “play-to-contribute” players, whom, he contends, had already had next to no motivation to create and contribute regardless of prior sentiments or personality. Advancements in reward systems and NFTs, he says, will provide tangible incentives for gamers to produce and develop user-generated content (UGC).
That “play to earn” approach, he says, is a “great example” of how blockchain games and the “token economy” may one day enable “self-sustaining” growth. Several NFT-based, as well as cryptocurrency videogames, utilize the concept “play to earn” to promote that participants may purchase and sell their NFT assets back and forth.
Matsuda goes on to express sympathy the about NFT bubble’s “not optimal state,” which was fostered by speculation and “overheated” trading behavior that was unrelated to the “observed value” of the material. He is optimistic, though, that what an “eventual right-sizing” would take place at a certain time.
Square Enix, that according to Matsuda, could employ NFT and cryptocurrency technology to allow “decentralized gaming” by incorporating sustainable token economies into their games. Incorporating such decentralized games into Square Enix’s portfolio will be a “key strategic subject” for the firm in 2022, he adds, and he hopes it becomes a major trend in players in the future.
Square Enix would also “keep a close watch on social trends” in the field, respond to consumers, increase its attempts to construct a company around the crypto space, and maybe release its very own cryptocurrency coins, according to him.