Square Enix doubles down on NFTs
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Square Enix doubles down on NFTs

Square Enix doubles down on NFTs

Square Enix doubles down on NFTs

Square Enix has sadly increased their commitment to NFTS, and other asinine technologies, in its recent Results Briefing Session.

The Terrifying Brief

This briefing includes information about Square’s medium-term strategies including discussions of the Embracer Sale. The following excerpt will not disappoint anyone, however:

“Accelerate the launch and monetization of new businesses by investing in focus areas (blockchain AI, cloud, and the cloud).”

The briefing also discusses Square’s plans regarding NFTs, under initiatives to promote Blockchain Entertainment. Some of the highlights are below.

“Issuing exclusive fungible tokens and designing earnings structures/communities (UGC, Governance, Guilds, etc. )”

“World-building, story-focused creativity x launching an NFT brand and IP”

“Issuing, managing, and investing our tokens.”

Square Enix fails again

Square, which sold many of its properties, including Deus Ex, Legacy Of Kain and Thief, to Embracer for $300 million. They also issued a press release explaining their reasons. It’s a snoozer that helps explain their medium-term business strategy.

“The Transaction will help the Company adapt to the changing global business environment by establishing an efficient allocation of resources. This will increase corporate value and accelerate growth in its core businesses in digital entertainment. The Transaction also allows for the creation of new businesses through investments in areas such as blockchain, AI, and the cloud.

Most of the game studios that announced they would invest in NFTs or the blockchain have either gone silent or backtracked in record time. Square Enix has decided to double its NFTs investment despite the clear and current backlash.

Square Enix doubles down on NFTs
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