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Square Enix CEO under fire after releasing letter that states intent to explore blockchain in future releases

Square Enix fans blast company president for championing NFTs and Blockchain technology (Image via Square Enix)
Square Enix fans blast company president for championing NFTs and Blockchain technology (Image via Square Enix)
Rupesh Nair

Popular video game publisher Square Enix has come under come scrutiny following a New Year's letter from the company's president that showed enthusiasm towards a future involving NFTs and Blockchain games.

The letter from Yosuke Matsuda has caused an outcry over the controversial nature of NFTs (Non-Fungible Tokens) as the gaming community debates whether it's good for the future of the industry or not.

a New Year's letter from the Square Enix president talks about new tech/concepts including NFTs, the metaverse, and particularly how blockchain games "hold the potential to enable self-sustaining game growth" bit.ly/3HnWubV https://t.co/FOG4S9Hpgb

Fans unhappy with Square Enix trying its hand at NFTs

Many developers and publishers have already given their opinion with regard to such technology. On the one hand, Epic Games and Ubisoft have supported the emergence of this technology, while on the other, companies like Valve and its subsidiary, Steam, have already banned them on the popular store.

Most gaming fans have supported companies who have chosen to stay away from NFTs and blockchain. This is one of the reasons why Square Enix's decision to look more into them in the future has disappointed them a lot.

The progression of (some) devs:1. They start as passionate game creators, placing the player first2. Then comes the success which attracts the people who just want the profit3. The passion becomes obscured & lost, placing the business firstExhibit A: hd.square-enix.com/eng/news/2022/…
Square Enix really said "Happy New Year" and started to talk about NFTs immediately. Bruhhhhhhh. https://t.co/CjRvcxFRCv

Fans have also criticized points of Matsuda's letter which talk about blockchain technology being the torch-bearer of self-sustaining game growth by employing the controversial "play-to-earn" concept.

"Advances in token economies will likely add further momentum to this trend of diversification. I see the “play to earn” concept that has people so excited as a prime example of this."

Fans are unhappy that Square Enix is moving quite quickly with this plan as the company might be looking to tap into the market in 2022, while many of their games suffer from a lack of resources.

"Incorporating decentralized games into our portfolio in addition to centralized games will be a major strategic theme for us starting in 2022."
Square Enix President saying they're going all in on NFTs in the same month their most successful game of all time is backed up with 20k queues and has to halt sales due to a hardware shortage caused by.. NFTs https://t.co/2CeorCImgV
Square Enix announcing they’re looking to put NFT’s in their gamesThen you remember FF16 is still in development…Great way to start the year… https://t.co/MAWIBqkGI2
Can’t get over the idea that Square Enix, who developed a game in which an evil corporation was draining the planet of energy, is fully embracing NFTs and the blockchain.
Square Enix kicking in the door of 2022 like, “Good news: The future of video games is worse than ever before!” twitter.com/wario64/status…
Square Enix is quickly becoming one of the worst publishers in the industry https://t.co/D49hnrrG3i
I can’t believe how many beloved institutions were so cruelly taken from us in the final days of 2021… John Madden… Betty White… Square Enix twitter.com/wario64/status…
Square Enix rly developed a game centered around eco-terrorists trying to save the planet/environment from corporate greed only to have the company’s higher-ups make the decision to embrace NFTs in the name of profit lmao

Incorporating Blockchain technology has its advantages and disadvantages. While on the one hand it will revitalize user-generated content by incentivizing them, on the other, it will cause much trouble between developers, independent creators and consumers.

Square Enix is facing a lot of backlash at the moment. It remains to be seen if the Japanese developers will persevere with the proposed idea under the harsh criticism or will they give in to the desires of the community.

The world of cryptocurrency has sky-rocketed thanks to technology revolving around NFTs and Blockchain. Just like the economic world, it seems like the gaming world is also riddled with many of its complications.


Edited by Abu Amjad Khan

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