Square Enix Embracing NFTs and AI Despite Backlash

In a recent letter from Square Enix President Yosuke Matsuda shared the company’s plans for 2023. The Japanese gaming company plans to “aggressively invest” in blockchain technology and non-fungible tokens (NFTs) in 2023, despite a volatile market and the declining popularity of NFTs among gamers. The company sold a number of studios and franchises to the Swedish holding company Embracer Group in May 2021, citing the “launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud”. In November, Square Enix launched the NFT game “Symbiogenesis”, which faced backlash from gamers expecting a revival of the horror series Parasite Eve. Square Enix President Yosuke Matsuda said in a letter that the company is working on “multiple blockchain games based on original IPs”.

Sources: Square Enix and The Washington Post

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