Square Enix outlines NFT and Snoop Dogg-Influenced Vision for the Future
Square Enix’s latest financial results briefing outlines a future plan that heavily relies on controversial technologies.
This shift in focus follows the shocking $300 million deal that was announced May 2. It saw Embracer Group purchase several of its non-Japanese studios and IPs.
Although the Embracer deal did mention investing in areas like AI, blockchain, and the cloud, Square Enix now has a better understanding of the implications for Square Enix.
Square Enix outlines NFT and Blockchain Vision for the Future.
First, Square Enix’s investments in technologies, including NFTs, are a concerted effort to “take on more domains,” the second of three business strategies that Square Enix has developed to help it achieve its medium-term earnings goals.
The briefing discusses the publisher’s recent creation of a Blockchain Entertainment Business Division in February and the complete season one of Shi-San-Sei Million Arthur as positive steps in this area.
“Encouraged and motivated by the results and feedback received from our NFT company, we have decided that we will produce a second-season.” The publisher explained: “Our plan was to integrate game content into our service and leverage the development expertise and operational experience we have accumulated in our existing businesses to explore potential earnings structures, breadth and NFT ownership experiences within the NFT industry.”
Square Enix lists the steps it will take to accomplish this goal, including obtaining “regulatory transparency and guidelines for Blockchain games” and “launching an NFT brand and IP.”
The publisher also stated that the initiatives would not be limited to Japan. He plans to create game and service publishing companies in countries with widespread cryptocurrency adoption.
Square Enix is also rumored to be planning to invest more in Hong Kong-based software company Animoca Brands and venture capital firm Animoca Brands. Animoca Brands is the current owner and operator of the mobile game Sandbox. This game, which is based upon blockchain, allows users to purchase plots of virtual property.
Some of The Sandbox’s virtual land currently belongs to rapper Snoop Dogg and DJs Richie Hawtin & Deadmau5.
The publisher plans to also invest in Ubitus, a cloud gaming company. It wants to increase its portfolio to include similar companies around the world.
Square Enix appears to be still evaluating the financial impact of the Embracer Group deal. It considers what type of windfall it can expect as a return on new investments. The company has listed its economic forecasts for 2019 as pending.
It adds, “We will disclose all our forecasts as soon we can formulate
reasonable estimations.”
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