Square Enix plans expansion to grow Metaverse strategy
Square Enix is set to move forward with its business strategy – establishing and acquiring more studios to develop its Metaverse segment – after its latest studio and IP sale to a Swedish company, Embracer Group.
The Japanese video game developer has been very vocal on Web3, revealing plans to implement blockchain, NFTs, and Metaverse into gaming. In the New Year’s newsletter, the company’s president Yosuke Matsuda mentioned Facebook’s rebrand to Meta as an affirmation that the concept of Metaverse was here to stay, calling 2021 the year of Metaverse and NFTs. In Matsuda’s opinion, this trend is about advances in extended reality technology, 5G, cloud services, and the increasing adoption of blockchain technology.
The company also partnered with Animoca Brands, a giant in Metaverse and blockchain gaming.
“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 said.
Square Enix is known for its widely popular video game Final Fantasy, which has been the most profitable product of the company. From now on, AI and blockchain games will reportedly be the company’s main focus.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
