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.
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.
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."
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.