Cryptoprice.ng - Crypto & Blockchain Resource logo Cryptoprice.ng - Crypto & Blockchain Resource logo
Cryptoknowmics 2022-05-16 07:00:45

Square Enix Plans to Issue Tokens and Make Substantial Investments in Web3 Gaming

In its Q1 results report, Square Enix announced that as part of its medium-term business strategy in 2022, it would include non-fungible tokens (NFT) into more game goods. According to its most recent earnings report, Square Enix (SE) is a Japanese game developer with $3 billion in assets under control. The company controls the Final Fantasy franchise and just sold the Tomb Raider franchise for $300 million. Square Enix plans to issue tokens and invest heavily in Web3 gaming https://t.co/ft4jBlqkgo — Black Media Daily (@BMDaily1) May 16, 2022 According to the report, the company began testing NFTs on the Shi-San-Sei Million Arthur game in February. The pilot programme’s success will lead to the second season of the game’s NFTs, and the company will eventually expand its NFT and blockchain activities. SE wants to provide regulatory clarity and norms for blockchain gaming, address scalability in NFT economies, and consider forming a corporate capital venture unit as the top priority of its blockchain domain projects. The company also announced that it intends to create an overseas organization responsible for “issue, maintaining, and investing our tokens,” implying that the company will begin to build a large gaming token economy. SE has been exploring its prospects in the blockchain gaming market with Web3 gaming and Metaverse venture capital firm Animoca Brands. As SE digs deeper into the ecosystem, the two companies’ collabor...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer