Later giving out control of two of its subsidiaries to improve their blockchain capabilities, Square Enix it has now revealed that its medium-term business strategy involves the deployment of more NFTs in its gaming products. The plans were unveiled via the company’s Q1 Earnings Report, which indicated that the successful pilot of NFTs in its ‘Million Arthur’ game franchise has cultivated a desire for more expansive activities within industries. of NFT and blockchain.
The activities identified by Square Enix come in a wide variety, as they include establishing regulatory clarity and guidelines for blockchain gaming, addressing scalability in NFT economies, founding a corporate capital venture unit, and founding an offshore entity that will handle the issuance, management, and investments of its own token, which of course also suggests that the company is most likely creating an expanding gaming chip economy).
To facilitate Web3’s ambitious expansion, the Japanese entertainment conglomerate has been working together with industry giants Animoca Brands, with its CEO Yat Siu (Who else revealed his fondness for Square Enix’s Final Fantasy franchise) with optimistic words to say about the company: “Square Enix has already been talking about the potential of blockchain gaming for a long time, which is why they do it better than most of the traditional gaming giants.”
In addition to its gaming-focused ambitions, the company’s Q1 Earnings Report also indicated that “blockchain investment and monetization” and “AI and cloud computing” are other goals of its mid-term business strategy. term, which are two areas of focus that are in line with the goals set in January by CEO Yosuke Matsuda.
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