Square Enix, one of the world’s leading video game companies, plans to issue tokens and continue investing in its transition to Web 3.0. Its new business strategy also includes greater use of NFTs.
Square Enix plans to issue tokens for its Web 3.0 projects
This Friday, Square Enix released a report on the results of its last fiscal year, as well as a new business strategy emphasizing the use of non-fungible tokens (NFTs). Far from being limited to that, it also includes a token issuance project and a special focus on the company’s Web 3.0 transition.
The Square Enix report clearly mentions the creation of tokens. These tokens would serve as an anchor around community projects. This includes for example governance issues, guilds and user generated content (UGC).
This medium-term vision will have to be concretized by the creation of a new entity. Thus, we will have to learn more in the coming months.
After a first experience in NFTs considered as successful by the company, via the Shi-San-Sei Million Arthur franchise, the company thus wishes to deepen its development in the field by multiplying the initiatives of the kind.
An assertive migration to the crypto universe
Square Enix’s appetite for our ecosystem is no longer a secret. This was already reflected in 2020 by its investment in The Sandbox and its parent company Animoca Brands. Last March, the Japanese studio revealed that this metaverse would host a new version of its mythical Dungeon Siege franchise.
As part of its business strategy, Square Enix has also announced that it will continue to invest in these entities as well as in Ubitus, a company specialized in cloud gaming that it already supported last year.
This desire to be a pioneer in blockchain was also demonstrated last March, with the sale of franchises such as Tomb Raider to finance the company’s new investments.
To date, Square Enix is the main major video game studio, not originating from the crypto ecosystem, to put so much effort into this sector. This momentum is a gamble that, if it pays off, could give it a leg up on its competitors.