Exciting News for the Gaming and Crypto Communities

Square Enix president Yosuke Matsuda just delivered some exciting news about their view on crypto and NFTs in their games. If you are unfamiliar with Square Enix, they are one of the largest AAA game developers with titles like the Final Fantasy series, Life is strange, and several Marvel games like Guardians of the galaxy. Their flagship is the MMORPG Final Fantasy XIV Online which was the most successful MMORPG in 2021.

If Square Enix incorporated native tokens and NFT into their games they would be the first AAA game studio to do this. You can read the full announcement here: https://www.hd.square-enix.com/eng/news/2022/html/a_new_years_letter_from_the_president_2.html

After reading the new years letter and also listening to the reactions from the investment and gaming communities my take is that it divided the two, the news was not well received by several of the big gaming content creators such as Asmongold and KiraTV. They think that this is only a new way to milk money from the customers and that it will not add anything positive.

I do think it is fair to say that these streamers are not very well versed in the crypto world and from what I understand their experience does not go further than that “NFTs are just selling jpegs of monkeys”.

Personally I see many positive outcomes, just consider a simple thing such as actually owning your game assets. Many of the MMO games offer cosmetic items which is very popular among the MMO gamers. If those cosmetics was in the form of an NFT that you own, you could trade them or sell them if you decide to not play the game any more. If a company as big as Square Enix used NFTs I  think that they would also make sure that they where transferable between their different games. There are of course a lot more use cases, and more intricate and complex things you could do. Consider for example that users could mint their own NFT in-game from things they create through for example gathering and crafting, this would be something that adds value to themselves, and could potentially be traded or sold to other players.

The only thing that I am concerned about is that Square Enix might pick the “wrong” crypto blockchain. Cardano is not the most mature when it comes to NFT and smart contracts, blockchains like Solana would be a more obvious pick. On the other hand Square Enix just started their journey into the crypto world and Cardano is maturing very fast and I think a lot will happen in 2022. Additionally Cardano has a very strong tie to Japan so lets hope that is a reason for them to pick the “right” blockchain. 

However, I think It is fair to say that whichever blockchain they pick, that blockchain will see an significant boost to it’s value


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