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Despite NFT "chaos", Square Enix is betting big on the reviled technology



A year ago, Square Enix big boss Yosuke Matsuda said that NFTs and blockchain games would become a "huge trend" in the entire gaming world going forward. NFTs are digital gadgets that you exclusively own, but in 2022 the new technology hit major roadblocks here and there in the gaming world. Steam said no, the Stalker 2 team changed plans, and Ubisoft got a hell of a lot of thumbs down. The backlash has been huge and sales around NFTs have collapsed (according to the Wall Street Journal).

Despite this, Yosuke Matsuda continues to underline the Square Enix venture. It appears in a New Year's letter. The company is, according to Matsuda-san, "mostly focused on blockchain entertainment".

"Looking externally, I think it is fair to say that blockchain gained significant recognition as a field in 2022.

Words that many people probably have opinions about. The majority of blockchain games are under development. The Square Enix boss believes that "confusion" can arise around new technologies before the public accepts them.

"Blockchain has been an object of exhilaration and a source of turmoil. But with that in the rearview mirror, we hope that blockchain games will transition to a new stage of growth in 2023.


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