The Japanese gaming big Sq. Enix has reasserted its dedication to blockchain gaming, saying that it’s going to proceed to develop blockchain, Web3, and NFT video games within the subsequent 12 months.
The agency, which created the Remaining Fantasy collection, issued an end-of-fiscal year statement this month.
Sq. Enix has confronted a livid backlash from many gaming communities for its blockchain pivot, which it first unveiled in early 2022.
The corporate’s turnover fell barely over the previous 12 months from round $2.7 billion at the moment final 12 months to about $2.5 billion.
It additionally misplaced virtually 1,000 employees members in the identical interval.
However regardless of a lukewarm reception for its NFT-related titles akin to Symbiogenesis, the corporate stated that it might proceed to focus on Web3 progress.
The agency referred to as its blockchain enterprise an “initiative” that “will obtain additional progress.”
It defined that it needed to turn out to be a “pioneer” in Web3 gaming and would “proceed to hold out funding actions globally.”
The corporate additionally claimed that the “acceleration of blockchain sport improvement” was considered one of its “priorities” for the 12 months forward.
The agency has additionally lately launched an NFT sport as a part of its long-running Million Arthur collection.
Whereas this sport has additionally been pilloried by the international gaming community, Sq. Enix stated that it was having fun with reputation.
Sq. Enix stated that “greater than 75%” of the NFTs it issued for the sport final month have been bought.
Some units have already bought out, it added.
The corporate stated that its title’s NFTs held the top-placed transaction rating by merchandise kind on the Line Blockchain protocol.
And the corporate stated that additionally defined that its Symbiogenesis venture was “nonetheless below improvement” with plans to “promote about 10,000 NFT artworks.”
Sq. Enix: Will Blockchain Gaming Pivot Succeed?
The corporate has beforehand stated that specializing in conventional types of gaming would “not be sufficient” for the corporate to thrive sooner or later.
The corporate’s President and CEO Yosuke Matsuda has beforehand talked of Sq. Enix’s want to “attempt its hand” at “offering autonomous sport content material.”
Matsuda additionally spoke of his plans to launch a cryptoasset.
However an obvious downturn within the agency’s fortunes may quickly be set to spark a regime change that will affect the way forward for Web3-related progress.
In March, Matsuda introduced he can be stepping down from his function in June this 12 months.
His substitute, Takashi Kiryu, beforehand labored at Dentsu Innovation Initiative – one other agency with Web3 credentials.
Dentsu struck a metaverse partnership take care of Microsoft final 12 months.