A game and media company will invest in Web3
Game developer and media company, Square Enix, is poised to build a robust ecosystem using blockchain and NFTs across all of its gaming assets as part of its ongoing business strategy in 2022 and beyond. of the.
The company behind the Final Fantasy film and game series recently transferred the assets of its other mainstream franchise, Tomb Raider, to Sweden-based Embracer Group AB for $300 million. According to its latest earnings report, Square Enix currently has $3 billion in assets under management.
Regarding its Web3 projects, the company wants to adopt a strict regulatory framework to allow NFTs and its token system to adapt to many games.
His report also shows how the developer tested NFTs on the Shi-San-Sei Million Arthur game earlier this year.
Successful adoption of NFTs among gamers will see a growth of the initiative deployed in other games. Animoca Brands, a venture capital firm specializing in games and web3, is partnering with Square Enix to develop its plans.
Speaking to Cointelegraph, Animoca Executive Chairman Yat Siu said of the partnership and the future, “Square Enix has been talking about the potential of blockchain gaming for a long time now, so it’s better than most giants. traditional game.”
Current innovation of blockchain-based games
Square Enix isn’t the only company jumping into the Web3 space through games. The new game Samurai Saga is a blockchain-based game that allows users to purchase NFTs to access their play-to-earn game. The team behind the game is also creating an online multiplayer option where players can earn rewards.
Dino Tomic, an artist on the project, said of web3’s capabilities in today’s gaming market:
“Most NFT projects in space promise to deliver a game, but most haven’t actually delivered one yet. Some have released an 8-bit play-to-earn game.
“The play-to-earn model isn’t new, but we’ve seen a gap between online multiplayer games and real play-to-earn, so the team is dedicated to closing that gap by creating a multiplayer play -to-earn game with surreal graphics and allowing users to experience the ultimate gaming experience.
There is no shortage of projects and games coming to market. With several projects failing to materialize their concepts, skepticism is now in order.
Although Samurai Saga delivered a playable demo to combat this, attracting new users remains a challenge. Something that probably won’t apply to a company like Square Enix with its profitability and market recognition.
Tomic concluded, “We are striving to release the full game in late 2022, where users will have the full multiplayer gaming experience while playing to win. At the same time, we want to focus on bridging the gap to bring gamers from web2 into the web3 space and vice versa to really create a complete game of play to win in the gaming industry.”