Square Enix President Yosuke Matsuda Says NFT, Metaverse, and Blockchain Will Stay

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Square Enix President Yosuke Matsuda released a New Year’s message reflecting on the past year and the future of gambling in 2022. Token-based economies are all buzzwords for 2021 that are “here to stay”. Starting with the metaverse, Matsuda said Facebook’s decision to change its name to meta shows that the metaverse as a concept “is not just a buzzword.” to Square Enix in the future.

“The Metaverse is expected to see a meaningful transition into a business phase with a wide range of services in 2022. As this abstract concept takes shape in terms of product and service offerings, I hope it “will bring about changes that will have more of an impact on our business,” said Matsuda.

As for NFTs, Matsuda said this could become another significant business opportunity. Matsuda admits that most play-to-have fun gamers aren’t exactly keen on NFTs and Metaverses. However, he concludes that NFTs and metaverses are not exactly aimed at that. Instead, he believes that advances in these areas will lead to more incentives for players who make “play-to-contribute” that he claims had little to no incentive, other than personal feelings or self-expression, to do anything to create and contribute. He also believes that breakthroughs in token economies and NFTs would create tangible incentives for gamers to create and develop user generated content (UGC).

He describes the “play to earn” concept as a “prime example” of how blockchain games and the “token economy” could one day enable “self-sustaining” growth. “Play to Earn” is a term used by many NFT-based and blockchain games to promote how players can buy and sell their NFT assets back and forth.

Matsuda continues to acknowledge concerns about the “non-ideal situation” of the NFT bubble fueled by speculation and “overheated” trading behavior detached from the “observed value” of its content. However, he is confident that there will be a “possible right-sizing” at some point.

Matsuda said that by developing viable token economies in its games, Square Enix can use NFT and blockchain technology to enable what he calls “decentralized gaming” to be a “major strategic issue” for the company in Square Enix’s portfolio will be in 2022. He also mentioned that Square Enix “will keep a close eye on social changes in the industry, listen to users and step up its efforts to develop a business.” around the crypto space and may issue their own crypto tokens.

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