In its fiscal year performance report, Square Enix, the Japanese entertainment conglomerate and video game company best known for its role-playing video game brands Final Fantasy, Dragon Quest, and Kingdom Hearts, announced plans to grow its blockchain gaming division.
Square Enix aims to use blockchain and non-fungible token (NFT) technology to give its users a more immersive gaming experience.
“Encouraged by the results and feedback from our NFT business, we have decided to produce a second season. Our plan is to incorporate game content into our service and to leverage the development and operational expertise we have amassed in our existing businesses to explore the potential of earnings structures, breadth of play, and NFT ownership experiences in the NFT business,” the company stated in the report.
Square Enix has laid forth three primary strategies to promote its blockchain entertainment domain:
- Blockchain game/entertainment development – Project missions
- Initiative to establish regulatory clarity and guidelines for blockchain games;
- Tackling scalability in NFT economic zones and experiences;
- Issuing exclusive fungible tokens and designing earnings structures/ communities (UGC, governance, guilds, etc.);
- World‐building, story‐focused creatives x launching a new NFT brand and IP.
- Establishing an overseas entity
- Issuing, managing, and investing our own tokens;
- Game & service publishing business (establish in countries with wide cryptocurrency adoption);
- Considering Corporate Venture Capital (CVC) unit.
Investing in key areas and startups, such as Animoca Brands and The Sandbox, is another Square Enix’s top strategy for deepening its strong presence in the NFT and blockchain gaming world.