‘Final Fantasy’ Developer Square Enix Surges On Metaverse And NFT Endorsement Despite Gamer Backlash

5th January 2022
‘Final Fantasy’ Developer Square Enix Surges On Metaverse And NFT Endorsement Despite Gamer Backlash
Square Enix

Square Enix saw its share price surge yesterday after its president endorsed blockchain gaming over the weekend.

In his new year’s letter, President Yosuke Matsuda discussed new technology that could impact the video game landscape including AI and 5G wireless connectivity.

Matsuda attracted particular attention when talking about blockchain tokens and the possibility of Square Enix having its own token in the future.

“I realize that some people who ‘play to have fun’ and who currently form the majority of players have voiced their reservations toward these new trends,” Matsuda said in his letter released on Saturday.

“However, I believe that there will be a certain number of people whose motivation is to ‘play to contribute,’ by which I mean to help make the game more exciting,” he added. “Traditional gaming has offered no explicit incentive to this latter group of people.”

“Incorporating decentralized games into our portfolio in addition to centralized games will be a major strategic theme for us starting in 2022,” the president wrote. “We will keep a close eye on societal shifts in this space while listening to the many groups of users that populate it, and ramp up our efforts to develop a business accordingly, with an eye to potentially issuing our own tokens in the future.”

Gamers and industry representatives were displeased by the President’s message that playing games for fun would not necessarily be the main incentive for developers.

“Among all the grossness of this whole letter, and even this quote, what gets me is the idea that people who play games to have fun are only “currently” the majority, and the implication that changing this is a good idea,” one Twitter user wrote.

Nonetheless, Square Enix saw its share price jump 8% yesterday – it’s biggest jump since August.

Square Enix is a Japanese video game developer best known for RPG franchises Final Fantasy, Dragon Quest and Kingdom Hearts.

Written by Bread News Team
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