Square Enix undergoes major restructuring amid NFT commitment

03/03/2023 09:11 • Metaverse Matters • 134 views

It is reported that Square Enix, the developer of “Final Fantasy” and the Japanese game giant, announced a major restructuring. President Yosuke Matsuda will resign and is likely to completely withdraw from the company. Takashi Kiryu, who once served as the general manager of Square Enix in China, will be appointed as a new president, subject to the approval of the shareholders’ meeting. The reason for Matsuda’s resignation is unknown, but it is said that it may be related to his commitment to the NFT business. Previously, he said in Square Enix’s annual letter that he would adhere to the blockchain investment strategy and disclosed that he was developing several blockchain games based on original IP.

Yosuke Matsuda, president of Square Enix, resigned or related to his NFT business commitment

Interpret the above information:

Japanese game giant, Square Enix, has recently announced a significant restructuring, including the resignation of the current president, Yosuke Matsuda. Matsuda is expected to completely withdraw from the company, with Takashi Kiryu taking his place upon approval from shareholders.

The reason behind Matsuda’s resignation is not entirely clear, though it is speculated that it may be related to his commitment to the NFT business. Square Enix’s annual letter stated that they would be adhering to a blockchain investment strategy and that they were developing multiple blockchain games based on original IP. Matsuda may have been at odds with fellow board members regarding the company’s investment direction and the move toward NFT development.

NFT, or non-fungible tokens, have become increasingly popular in recent years, providing a unique and collectible experience for consumers in the digital realm. The technology has been adopted by artists, sports teams, and gaming companies, among others. NFTs allow for the creation and distribution of unique assets that can be bought and sold on blockchain-based marketplaces.

Square Enix’s reported shift toward NFT development is not particularly surprising, as the company has a history of pioneering new technologies and investing in cutting-edge gaming platforms. The announcement of the restructuring could be an indication that Square Enix is doubling down on their efforts to expand their blockchain gaming library and further capitalize on the potential of NFTs.

Since Takashi Kiryu’s appointment as the new president has yet to be approved, there remains uncertainty regarding the direction Square Enix will take in the coming years. Kiryu has previous experience serving as the general manager of Square Enix in China, and his appointment could signal the company’s desire to expand more heavily into the Asian gaming market.

In conclusion, Square Enix’s restructuring and Matsuda’s resignation may be linked to the growing importance of NFTs in the gaming industry. NFTs offer a new form of collectability and uniqueness that has yet to be fully explored in the gaming industry, making it a potentially lucrative field for investment. The appointment of Kiryu could signal an increased focus on the Asian gaming market, and his leadership may bring significant changes and further innovation to Square Enix.

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Square Enix undergoes major restructuring amid NFT commitment

Yosuke Matsuda, president of Square Enix, resigned or related to his NFT business commitment

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