Square Enix, a Japanese gaming giant, is changing its business strategy in order to place more emphasis on blockchain-based technology. New plans include a strong NFT ecosystem to make it easier for in-play NFT purchase.

Square Enix shared its mid-term financial results and business strategy for this year.

.@animocabrands & @TheSandboxGame are very honored to be highlighted as key investment areas for @SquareEnix I spent countless hours playing @FinalFantasy in the #80’s which continues to be one of the most influential RPG games in gaming history #NFT https://t.co/KcgmhHv1CO pic.twitter.com/PnMWHs4iTj

— Yat Siu (@ysiu) May 16, 2022

By selling classics, you can raise money for future projects

Recently, Square Enix had sold the studio with the rights to the ‘Tomb Raider‘ franchise for 300$ million. The Japanese game developing company sold three Western studios in total, thereby passing on the rights to titles like ‘Legacy of Kain’, ‘Thief’ and ‘Deus Ex’.

Square Enix created NFTs earlier in the year for Shi-San-Sei Million Arthur’s game. The company described the first attempt at NFTs as a success. Square Enix has larger ambitions now that it is a game publishing company. The firm has already set its sights on establishing an overseas enterprise that will be responsible for the “issuing, managing and investing” of company-owned NFTs.

The Building of a Broad Gaming NFT Ecosystem

Square Enix and Animoca Brands have entered into a partnership to explore blockchain gaming options. This deal is part of an updated business strategy that focuses on artificial Intelligence Cloud Computing. The monetization of blockchain also features as the third objective for Square Enix’s plans.

Interest in NFT gaming is massive, even despite the crash of the crypto market, and this is evident by the sector’s 1 million active daily gamers, as reported by DappRadar.

Game industry giant Square Enix plans to issue tokens, in partnership with Animoca Brands pic.twitter.com/viDdJMphIk

— Revel Lab (@RLVentures__) May 16, 2022

There has been an overall decline in the sales of NFTs for in-game games. While the sales volume for such NFTs stood at around $70million at the start, this figure is now just below $10 million at the writing of this post. Square Enix seems poised to offer their services in this market.

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