Thursday, January 20, 2022
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By Mayowa Adebajo
Published 20 mins ago Updated 20 mins ago

No doubt, 2021 saw an impressive adoption of nonfungible tokens (NFT) and play-to-earn (P2E) games, but an even bigger adoption may well be underway as one of the world leaders in gaming — Square Enix, sees them as the undeniable future of the industry.

Square Enix Hopes That The Adoption of Metaverse and The Likes Will Have A Substantial Impact on Its Business

Square Enix CEO, Yosuke Matsuda has shared the company’s plans for the blockchain and NFT sectors in 2022, albeit in his new year’s message. Matsuda noted in his letter, how the rebranding of Facebook to Meta goes to show that the concept of the Metaverse is not just wishful thinking anymore. According to him, 2022 will be the year that the metaverse really takes concrete shape, even as the globe begins to gradually come to terms with the reality of virtual reality.

As Matsuda claims, the increasing use of cloud computing, virtual reality technology, and 5G will all play a key part in birthing the metaverse. A part of Matsuda letter reads:

“As this abstract concept begins to take concrete shape in the form of product and service offerings, I am hoping that it will bring about changes that have a more substantial impact on our business as well.”

Meanwhile, away from the metaverse, Matsuda also spoke a bit on NFTs, P2Es, and then blockchain.

But while investments in blockchain are fast rising, it may seem that only the firms in the gaming business are putting in the work to legitimize blockchain technology. For instance, Square Enix invested in the metaverse when it partook in a $2-million funding round for The Sandbox — an Ethereum-based metaverse game.

Other Gaming Bigwigs Taking A Similar Position

Ubisoft is another big firm in the industry that has announced its plans to build remain committed to its NFT and blockchain ambitions.

Other big names in the gaming industry include the CEO of video game firm Electronic Arts (EA) Andrew Wilson, who has also publicly shared his belief that truly, NFTs and P2E games represent the future of gaming even though it may still be a bit too early to determine how exactly they’ll function in that regards.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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