President of Square Enix, Yosuke Matsuda recently announced the firm’s ambitions in regard to blockchain technology while acknowledging concerns with respect to the new trend. The world's largest gaming company, Square Enix is the creator of Final Fantasy, Dragon Quest, and Kingdom Hearts. 

Matsuda revealed that his company is considering launching its own cryptocurrency based on blockchain in the future. In a letter published on the company's website for the new year, he goes on to say that the token economy will encourage players to engage in interactive game content, as well as naturally foster variety in games, which is essential for self-sustaining game growth.

He acknowledged that the current speculative exchange of NFTs isn't ideal, considering the issue a short-term problem that will disappear as more NFTs are adopted.

“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, and understandably so,” he wrote.

He adds, “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."

According to the exec, offering users an opportunity to earn money from their creations in games could help revive user-generated content, as there had previously been no incentives for users.

Previously, Ubisoft announced in December that it would integrate NFT performance into Ghost Recon: Breakpoint, the most recent game in the series. Square Enix is therefore the second major game maker to announce strategies to enter the cryptocurrency market.

Nevertheless, not every gamer is for NFT. Cointelegraph reported that the STALKER 2 video game makers had to completely cancel NFT's integration plan after facing numerous objections and boycott threats.

Several game companies have already started selling digital items through NFTs, such as Ubisoft, though some have been critical of the format's heavy carbon footprint and its implementation.

Also Read: Deutsche Telekom subsidiary T-Systems MMS company support Polkadot blockchain Network ecosystem

Pavan A

CBW - External Analyst

INDIA