Square Enix has again used its New Year letter to promote its “aggressive” investment into blockchain games, claiming that recent volatility in the market could ultimately benefit its plans.
as part of what it calls the “first digital collectible art project designed from the ground up for Web3 fans”.has now said blockchain remains the biggest focus for its medium-term investments, despite what he called “volatility” in the blockchain space in 2022.
“However, the year also saw volatility in the cryptocurrency and NFT markets that tracked the dramatic shifts in the macroeconomy described above. The latter half of the year in particular produced a somber string of news stories with blockchain connections, including the scandalous bankruptcy filing of FTX in November.”
Matsuda concluded by acknowledging that much of the discussion around blockchain games was previously driven by investors, and as such focussed on the monetisation opportunities the technology could unlock. “The market was driven more by speculative investors than by gamers through 2021. In other words, the content that was at the forefront was created based on the premise that blockchain and NFTs should result in monetization.Symbiogenesis is described by the publisher as a"new franchise"
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