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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 — 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...

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