Square Enix to Boost its NFT Gaming Adoption Strategy

Tokyo-based Japanese game developer, Square Enix is set to boost its push into the Non-Fungible Token (NFT) ecosystem with plans to develop new titles to integrate the new technology. As the firm detailed, the moves to expand on this strategy will be centered on efforts to promote its earlier works in floating the pilot NFT game through the Season 1 of its Shi‐San‐Sei Million Arthur title. 

Square Enix is renowned for such gaming titles including the Adventure of DAI, Dragon Quest Walk, End Walker: Final Fantasy XIV, Outriders, and Guardians of the Galaxy amongst others. Its push into NFT gaming is considered a significant move that will help take the NFT world to a new frontier.

The firm is determined to double down on its plans, especially if the Shi‐San‐Sei Million Arthur proves to be very successful on key metrics.

“Encouraged by the results and feedback from our NFT business, we have decided to produce a second season. Our plan is to incorporate game content into our service and to leverage the development and operational expertise we have amassed in our existing businesses to explore the potential of earnings structures, breadth of play, and NFT ownership experiences in the NFT business,” the company said in its latest Fiscal year earnings report.

Square Enix to Build a Broad Business Strategy

Square Enix is looking at building a broad-based business strategy that will involve game development, establishing a corporate venture unit, and creating an overseas offshoot that will be in charge of issuing, managing, and investing its own tokens that will be floated in the near term.

Functional partnerships remain one of the key focus of the Square Enix NFT game pursuit as it also hopes to invest and partner with Animoca Brands, The Sandbox, and Ubitus, a Japanese startup that provides cloud gaming solutions and media content streaming solutions to gaming and telecommunications companies.

Blockchain gaming is a venture that many believes will accelerate the adoption of NFTs and metaverse-related products in the Web3.0 space. In a bid to properly be positioned in this outstanding ecosystem, several startups have pulled venture capital funding alongside targeted acquisitions, all done in order to establish their foothold in this regard.