{"id":26927,"date":"2022-05-16T02:08:50","date_gmt":"2022-05-16T06:08:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=26927"},"modified":"2022-05-16T02:09:03","modified_gmt":"2022-05-16T06:09:03","slug":"square-enix-sets-to-invest-in-web3-gaming","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/square-enix-sets-to-invest-in-web3-gaming\/","title":{"rendered":"Square Enix Sets To Invest In Web3 Gaming"},"content":{"rendered":"\n
Square Enix is investing in blockchain gaming infrastructure to expand its NFT<\/a> ecosystem.<\/h5>\n\n\n\n
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Square Enix revealed in its first-quarter earnings report that it will incorporate nonfungible tokens (NFT) into more game products as part of its medium-term business strategy in 2022.<\/p>\n\n\n\n

According to its most recent earnings report\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Square Enix (SE) is a Japanese game developer with $3 billion in assets under management. The company owns the Final Fantasy franchise and purchased the Tomb Raider franchise for $300 million on May 3.<\/p>\n\n\n\n

According to the report, the company began testing NFTs on the Shi-San-Sei Million Arthur game in February of this year. The pilot program's success will pave the way for the game's NFTs to return for a second season, and the firm will eventually pursue broader activities in the NFT and blockchain industries.<\/p>\n\n\n\n

SE intends to establish regulatory clarity and guidelines for blockchain games, address scalability in NFT economies, and consider establishing a corporate capital venture unit as the top priority of its blockchain domain initiatives.<\/p>\n\n\n\n

The company also stated that it intends to establish an overseas entity to handle “issuing, managing, and investing our tokens,” implying that the company will begin developing a large gaming token economy.<\/p>\n\n\n\n

SE has been exploring its options in the blockchain gaming space with Web3 gaming<\/a> and Metaverse venture capital firm Animoca Brands<\/a>. As SE delves deeper into the ecosystem, the two companies' collaboration is expected to grow.<\/p>\n\n\n\n

Animoca's Executive Chairman Yat Siu believes Square Enix's gaming influence will only help the company establish a foothold in blockchain gaming. Today, he said:<\/p>\n\n\n\n

“Square Enix has already been talking about the potential of blockchain games for a long time so they get it better than most of the traditional gaming giants out there.\u201d<\/p>\n\n\n\n

The report's third goal in its medium-term business strategy is to invest in and monetize blockchain, artificial intelligence (AI<\/use><\/svg><\/span><\/a>), and cloud computing. This is consistent with CEO Yosuke Matsuda's stated intention in January for his company to become more involved in those technologies.<\/p>\n\n\n\n

Despite a general crypto market downturn, the popularity of Web3<\/a> and NFT gaming has remained strong throughout 2022. According to market tracker DappRader<\/use><\/svg><\/span><\/a>, there were 1 million daily active gamers on May 14, nearly the same number as on January 1.<\/p>\n\n\n\n

However, gamers are not purchasing as much as they used to, with total sales volume for NFT game items falling 88 percent from $70 on January 1 to $8.7 million on May 14.<\/p>\n","protected":false},"excerpt":{"rendered":"

Square Enix is investing in blockchain gaming infrastructure to expand its NFT ecosystem. Square Enix revealed in its first-quarter earnings report that it will incorporate nonfungible tokens (NFT) into more game products as part of its medium-term business strategy in 2022. According to its most recent earnings report , Square Enix (SE) is a Japanese […]<\/p>\n","protected":false},"author":33,"featured_media":26930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-26927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/GettyImages-1292259298.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=26927"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/26930"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=26927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=26927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=26927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}