Square Enix CEO Yosuke Matsuda has suggested that the upcoming fiscal year will see multiple blockchain games released by the publisher, as well as for the foreseeable future. It is a continuation of Square Enix's foray into the world of Web 3.0 technologies, despite gamers' insistence that the "play to earn" model is the last form of monetization they want.
With the sudden but unsurprising liquidation of Babylon's Fall and the disappointing sales of Forspoken, Square Enix has been experiencing a rather hard time as of late. However, many gamers have found it hard to summon any sympathy given that the past two New Year's letters from CEO and President Yosuke Matsuda have indicated Square Enix's resolute determination to invest in blockchain video games. Although this may have seemed like a savvy business decision in some circles last year, the end of 2022 saw cryptocurrency, NFTs, and other supposed Web 3.0 technologies implode, the most notable example being the collapse of FTX, which was once one of the largest cryptocurrency exchanges. Nevertheless, Matsuda noted at the beginning of 2023 that Square Enix has multiple blockchain games in development.
Stephen Totilo, a video games reporter for Axios, tweeted a transcribed exchange between Matsuda and someone questioning how he expects the year-on-year growth of the company to continue. For context, Square Enix is expected to have a particularly successful fiscal year due to titles such as Final Fantasy 16 and Final Fantasy 7 Rebirth, two highly anticipated games currently set to release in 2023. Thus, Matsuda was asked what initiatives were in place to "ensure sustainable growth."
Matsuda's reply began strong, explaining that Square Enix's development pipeline has been established so that the next few years have a "good spread of new releases." But his final sentence, likely to invoke the ire of gamers, saw Matsuda express hope that they would "look forward to the blockchain games" Square Enix plans to release this year and beyond. To say that previous blockchain gaming attempts have been met with hostility would be a severe understatement and speculation regarding the future of Square Enix will only intensify if these games see the light of day.
Furthermore, Square Enix's recent troubles have translated to a decline in sales, a factor that likely influenced Matsuda's decision to step down from his leadership position. With a replacement already decided, Square Enix is all but certain due to have a new CEO following a shareholder meeting in June.