Square Enix CEO Comments on NFTs, Token Economy

Peter_Brosdahl

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Image: Square Enix



Square Enix CEO Yosuke Matsuda has posted a New Year’s letter delving into the controversial topics of NFTs in games and play to earn with blockchain gaming. He also expands on the nature of token economies.



Another term that gained quick currency in 2021 was “NFT” or “non-fungible token.” The advent of NFTs using blockchain technology significantly increased the liquidity of digital goods, enabling the trading of a variety of such goods at high prices and sparking conversations the world over. I see 2021 not only as “Metaverse: Year One,” but also as “NFTs: Year One” given that it was a year in which NFTs were met with a great deal of enthusiasm by a rapidly expanding user base. However, we do observe examples here and there of overheated trading in NFT-based digital goods with somewhat speculative...
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Right, the ****list is growing.
Epic
Ubisoft
Square Enix

Who is next, I dare you.
 
Grimlakin said:
Im sure they quake in the boots at loosing the gaming dollars of the 45+ contingent.
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I don't care for what they fear, I'm stating facts. They are assuming most people will just fall in line like they did when they introduced day 1 DLCs, or pre-order bonuses. Well this time it is different as NFTs go beyond gaming, they are an ecological and economical disaster waiting to happen just as any crypto based currency. I hope they are as wrong in their assumption as you are.
 
MadMummy76 said:
I don't care for what they fear, I'm stating facts. They are assuming most people will just fall in line like they did when they introduced day 1 DLCs, or pre-order bonuses. Well this time it is different as NFTs go beyond gaming, they are an ecological and economical disaster waiting to happen just as any crypto based currency. I hope they are as wrong in their assumption as you are.
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Oh I'm not going to be participating in the NFT market at all. I think it's a waste. The ONLY benefit that might come from NFTs is the ability to sell digital games to others that are in your library.
 
Well, when a MFer can go against its promise, "no consumables" in a game, should we expect future integrity decisions from those MFers?!

😤
 
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