The letter of the beginning of the year from Yosuke Matsuda, the president of Square Enix, in which he talks about the company’s interest in NFT, blockchain and metaverse, all terms that seem to make players itchy, he did increase the value of the shares by 8%.
In his speech Matsuda talks about how NFTs, despite public fears, will become a familiar concept in the gaming landscape and the same goes for the metaverse, with 2022 being remembered as a sort of “year 1” for this new frontier.
Matsuda further states that Square Enix will adapt to this trend and will expand to a more diverse audience, investing in cloud, blockchain-based games and artificial intelligence in the future.
Statements that, as previously mentioned, have not been welcomed with open arms by a good number of players, particularly averse to NFT, cryptocurrencies and so on. However, the same is not true for investors, who instead saw Square Enix’s plans for the future as an opportunity for growth. With the result that the share price rose 8%, thebiggest increase since August last year, as reported by Bloomberg.
Square Enix is not the only videogame giant interested in the new emerging market trends. EA also seems very interested in NFTs while Ubisoft recently launched Quartz, a digital asset trading platform, which however has not been very successful. In the same way, Epic Games Store would seem willing to include games that exploit NFTs in its catalog, while Peter Molyneux is working on Legacy, a multiplayer management software where players can buy virtual land, start business and trade with other players through the use of a cryptocurrency.
As for the metaverse, we know for sure that Meta will invest heavily in this new frontier, but other numerous players in the market, such as Microsoft and Disney just to name a couple, also seem very interested.
In short, NFT, blockchain and metaversi will also be viewed in a bad way by players, but it is clear that they are increasingly gaining a foothold in the market and could represent the future also in the videogame field.
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