After handing over control of two of its subsidiaries to enhance its blockchain capacities, Square Enix has now revealed that its medium-term business strategy involves the roll out of more NFTs across its gaming products. The plans were unveiled via the company’s Q1 Earnings Report, which stated that the successful piloting of NFTs in its ‘Million Arthur’ game franchise has cultivated a desire to pursue more expansive activities within the NFT and blockchain industries.
The activities identified by Square Enix come in a broad variety, as they include establishing regulatory clarity and guidelines for blockchain games, tackling scalability in NFT economies, founding a corporate capital venture unit, and founding an overseas entity that will handle the issuing, management, and investments of its own token, which, of course, also suggests that the firm will quite likely be creating an expansive gaming token economy).
To facilitate the ambitious Web3 expansion, the Japanese entertainment conglomerate has been working alongside industry giants Animoca Brands, with its CEO Yat Siu (who also revealed his endearment for Square Enix’s Final Fantasy franchise) having optimistic words to say about the company: “Square Enix has already been talking about the potential of blockchain games for a long time, so it gets it better than most of the traditional gaming giants out there”.
In addition to its game-centric ambitions, the company’s Q1 Earnings Report also stated that ‘blockchain investment and monetization’ and ‘AI and cloud computing’ are other objectives of its medium-term business strategy, which are two areas of focus that are in line with the objectives set out in January by CEO Yosuke Matsuda.