According to the annual letter of the company's president Yosuke Matsuda, "Final Fantasy", "Heart of the Kingdom" and "Tactical Ogre" and other franchises. Square Enix, the company behind the franchise, will recommit to its blockchain strategy in 2023. The company's goal is to launch multiple blockchain games and NFT projects with new IP sometime in 2023. It is noteworthy that this year it will also issue, manage and invest its own cryptocurrency as an international entity.

Square Enix has made a new commitment to all content of Web3. The company is famous for its favorite series of video games such as Final Fantasy and Kingdom Hearts. At the beginning of the new year, the company updated its blockchain and Web3 strategies, and made its debut plan to launch several blockchain games and NFT projects using the new IP at some time in 2023, using its expertise in building and storytelling. In addition, the Japanese game company intends to issue, manage and invest its own cryptocurrency within the year as part of its existence as an international entity.

In order to promote its global business, Square Enix also shared the plan to establish a game and service publishing business centered on blockchain games. In view of the recent divestment of its Western Studio to Embracer Group, there are signs that the company hopes to further establish its reputation in the international market for its US game development department. This year, Square Enix may also establish an enterprise venture capital department, which shows its strong interest in following up its initial Web3 investment in Animoca Brands and Sandbox.

This move may confuse the core game audience of Square Enix, who opposed the introduction of this new technology into their favorite media for most of 2022. Although blockchain technology has received an unpleasant reception in the broader game market, Square Enix has been quietly establishing its position in Web3 in the past few years.

In 2021, Square Enix released the NFT series for its mobile game Shin-San-Sei Million Arthur, which was launched only in Japan. Later, it released a blockchain mobile game on the Japanese market as a proof of the concept of future blockchain games. In 2022, the new 30 million King Arthur completed the first season, providing important insights for the release and maintenance of blockchain games. In 2022, Square Enix also worked with King to launch a set of collectable digital cards and statuettes based on Final Fantasy 7 to celebrate the 25th anniversary of this landmark game.

Square Enix may plan the economic structure of its future blockchain game in 2023, citing the exploration of user-generated content and effective community autonomy in the document. In addition to increasing regulation around encryption and NFT space around the world, Matsuda Falcon also mentioned that Japan is interested in using blockchain technology to serve the Japanese people, saying that the company's response to space volatility is a necessary step to create a "more transparent business environment" locally, which includes the priority policy plan approved by the Japanese government to realize the digital society, And its official digital organization, DAO, established in November to study Web3 as closely as possible.

This is also after the Japanese government intends to integrate blockchain technology into the services it provides to the people of island countries. In his letter, Matsuda stressed the legitimacy of this strategy as a business decision, and addressed the concerns of readers who are only familiar with the negative 2022 headlines about Web3. This is reasonable, because Square Enix's decision is also contrary to the attitude of the broader game market towards NFTs. The best example is my ban on all blockchain technologies of the platform in July 2022.

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Matsuda Falcon said that 2023 is a landmark year because it marks the 20th anniversary of the merger of Enix and Square. Against the background of dazzling changes in the business environment, significant growth has been achieved driven by numerous opportunities in the past two decades. They will push the business forward, and the goal is to make 2023 a year of major development and change. Square Enix has a world-famous game story and building a powerful country, which may be a step to appease industry consumers who are worried that Web3 games may lack substantial content.