Yosuke Matsuda, president of Square Enix NFT, Metaverse, says,

Square Enix president Yosuke Matsuda has issued a New Year’s message reflecting on the future of gaming over the past year and 2022, and if his words are anything to go by, the metaverse, non-fungible tokens (NFTs), blockchain games and digital Token-based economies are all 2021 buzzwords that are “here to stay”. Starting with the Metaverse, Matsuda said that Facebook’s decision to change the name to Meta reflects that the Metaverse as a concept is “not just a discussion”. Matsuda said the Metaverse will become a commercial product in 2022 and may eventually have some applicability to Square Enix in the future.

“Metaverse will likely see a meaningful transformation into a commercial phase in 2022, with a wider range of services visible on the scene. As this abstract concept begins to take concrete shape in the form of product and service offerings, I expect that This, Matsuda said, will bring about changes that will have a greater impact on our business as well.

As far as NFTs are concerned, Matsuda said this could become another significant business opportunity. Matsuda acknowledged that most “fun to play” gamers aren’t exactly thrilled with NFTs and the Metaverse. However, he concluded that NFTs and the metaverse are not exactly designed for him. Instead he believes that progress in these areas will lead to more incentives for “play-to-contribution” gamers, which he claims have nothing to create and contribute other than personal feelings or self-expression. There is no incentive. He also believes that success in token economies and NFTs will provide a solid incentive for players to create and develop User-Generated Content (UGC).

He cites the concept of “play to earn” as a “prime example” of how blockchain games and a “token economy” could one day enable “self-sustaining” growth. “Play to Earn” is a term used by many NFT-based and blockchain games to promote how players can buy and sell their NFT assets back and forth.

Matsuda goes on to acknowledge concerns about the “not ideal conditions” of the NFT bubble, fueled by speculation and “overheated” behavior in trading separated from the “observed value” of the material. He says that, however, he is confident there will be an “ultimately correct size” at some point.

According to Matsuda, by designing viable token economies in its games, Square Enix can use NFTs and blockchain technology in what it calls “decentralized gaming.” He expects this to become a major trend in games going forward, and says the inclusion of such decentralized games in Square Enix’s portfolio will be a “major strategic theme” for the company in 2022. He also mentioned that Square Enix will “keep a close eye on social changes” in the space, listening to users, accelerating its efforts to grow a business. around the crypto space, and potentially issue their own crypto tokens.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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