Square Enix, a major Japanese video game developer and publisher, has reaffirmed its commitment to invest in blockchain games despite the current volatility in the cryptocurrency market.
Meanwhile, it is gradually removing support for several games, making the company's products considerably lighter and healthier for customers and potential bidders.
Strong Faith
In an open letter published on Sunday, Jan. 1, business president Yosuke Matsuda said that the game publisher would focus more heavily on Web3 gaming in the following year.
In terms of new business initiatives, he said that Square Enix is particularly focused on blockchain-powered gaming.
According to Matsuda, per Cryptonews' report, Square Enix is working on several blockchain games that will be released in 2023 and will be based on unique intellectual property rather than the company's current brands.
The company is still considering blockchain investment prospects in Japan or elsewhere.
"Blockchain has been an object of exhilaration and a source of turmoil, but with that in the rearview mirror, we hope that blockchain games will transition to a new stage of growth in 2023," he wrote.
Matsuda pointed out that broad acceptance of blockchain technology persists despite the tremendous fluctuation in the crypto and NFT industry and a succession of sad news events with blockchain ties, such as the scandalous bankruptcy filing of FTX in November.
He cited the Priority Policy Program for Realizing a Digital Society, which emphasizes fostering the growth of Web3. Some government officials in the nation were even given NFTs.
Matsuda further defended the latest crypto market crash by saying it was inevitable.
He believed that if crypto experiences volatility, investors should not automatically disregard the asset's potential.
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No More Updates
A lot is going on at Square Enix right now. As a result, the firm has decided to stop providing updates for some of its titles, according to Eurogamer.
The First Soldier, the Final Fantasy 7 battle royale, will be ending later this month, on the 11th. On Feb. 28, Bravely Default: Brilliant Lights will no longer be supported, as well.
The developer has announced future intentions to include an offline option to Bravely Default: Brilliant Lights.
They are similar to Square's Chocobo GP, a Mario Kart ripoff with a Final Fantasy theme.
Square Enix apologized for the news and expressed gratitude for people's continued support.
The firm also stopped releasing big-scale upgrades for the controversial Nintendo Switch racing game in December, barely nine months after the game's initial release.
No new characters or maps will be produced after Season 5, officially terminating support for the game. At the same time, it will still be playable, and rankings will remain without using reward pass levels.
In addition to these reductions, Square Enix sold their Western studios to Embracer last year, which included intellectual properties such as Tomb Raider and Deus Ex.
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