Square Enix has taken a technological turn from game development with the devs pivoting towards NFTs, partnering with Oasys to become an “environmentally friendly, proof of stake” blockchain.
Square Enix will become a ‘validating node.’ The move makes the studio one of the most recent dominoes to fall into the blockchain wave, alongside Ubisoft, Sega, Bandai Namco Research, and Yield Guild Games.
Oasys has accumulated 21 other companies to ‘validate’ the service.
Square Enix’s new responsibility will be to keep the systems secure by storing a copy of the blockchain. The Final Fantasy devs will also be in charge of the record blocks on the platform. Another item on the Kingdom Hearts dev’s list of responsibilities is “the feasibility of harnessing user contributions in the development of new games on the Oasys blockchain.”
Square Enix president Yosuke Matsuda addressed the growing concerns in the company’s shift towards NFTs and cryptocurrencies in January this year, saying user-generated content is at the forefront of their mind. The company boss said Square Enix is now positioning itself towards “play to contribute” designed content, instead of “play to have fun” content.
The appeal of fans creating things inspired by their favorite games spoke loudly to Matsuda, who said: “UGC has been brought into being solely because of individuals’ desire for self-expression and not because any explicit incentive existed to reward them for their creative efforts.”
The focus on these cryptocurrencies and NFTs is to provide fans incentives and a “tangible upside” for their creations.
Reports shared Square Enix recently offered up stakes within the company, after the release of its latest financial results, the Final Fantasy devs aimed “to improve capital efficiency.”
Square Enix’s been making money moves, with the company being reportedly set to rake in $1.4 billion from its recent sale to Embracer Group, and with its recent $561.7 million net sales in the first quarter of 2022, the Final Fantasy devs are taking risks.