Despite previous statements hinting at Square Enix embracing the blockchain, the Japanese entertainment conglomerate seems to be shifting its focus back to gaming and possibly venture capitalism. We previously reported that they sold Tomb Raider to focus on blockchain projects. But it seems they’re shifting direction.
In a recent statement concerning the sale of Crystal Dynamics, Square Enix Montreal, and Eidos Montreal to Embracer, Square Enix hinted at an interest in exploring the blockchain. ‘The transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, artificial intelligence, and the cloud.’
Now, however, the Japanese entertainment conglomerate and powerhouse behind titles like Just Cause 4 seems to be shifting gear. A recent financial report supports the idea and suggests that revenue from the recent sale will be reinvested into Square Enix’s ‘core business.’
‘Rather than using the proceeds from the divestiture in new investment domains such as non-fungible tokens and the blockchain, we intend to use them primarily to fund our efforts to foster solid intellectual property and to enhance our development capabilities in our core digital entertainment segment.’
This statement from Square Enix’s President, Yosuke Matsuda, puts even more weight behind the idea that the company is refocussing its investments and opting to strengthen its primary business interests as opposed to speculating about the blockchain.
Matsuda elaborated on Square Enix’s future potential investments and even mentioned venture capitalism as an avenue the company is interested in pursuing. ‘Our intention is to undertake fundraising efforts for our new investment domains separate from those for our core business and we are considering various possibilities including potentially establishing a corporate venture capital fund.’
In addition to various new business opportunities, Matsuda says that Square Enix is also refocussing its gaming product retinue and future products on that front. He says that the company intends to ‘focus on creating new titles that align with our strategy including ones that leverage new intellectual property.’
He also notes that ‘the Just Cause franchise will remain our intellectual property and we are at work developing a new title in the franchise.’ Matsuda seems to be hinting at the upcoming Just Cause Mobile free-to-play shooter that is on schedule for release later this year. However, Square Enix could be working on something else Just Cause-related as well.
We’ll only know a little closer to the official release. In other Square Enix news, we’re still waiting with bated breath for any new morsels of information about Final Fantasy 7 Ever Crisis. We do, however, believe that the game could come as soon as September 2022, so we won’t be waiting much longer!
