Yosuke Matsuda, the president of the Japanese company Square Enix, stated in a letter on January 1 that the company intends to strengthen its attention on blockchain game development despite the volatility in the cryptocurrency market.
The letter set out the company's objectives for 2023 as well as a summary of its major accomplishments in 2022. The fact that blockchain gaming was the subject of seven out of the fifteen paragraphs shows that the corporation will continue to prioritize it in its future investing strategy.
Before attempting to explain its decline, Matsuda outlined the ups and downs of the bitcoin industry in 2021 and 2022. Although new technologies may cause "confusion," according to him, they eventually become accepted as a normal part of daily life. Therefore, even if there is instability, investors shouldn't instantly disregard the potential of the bitcoin market.
According to Matsuda, any technology that can endure "societal tides" would eventually become ingrained in people's lives, giving rise to new sectors and economic growth.
In the letter's conclusion, Matsuda stated that Square Enix was developing a number of blockchain games and will be announcing more in 2023.
The letter implies that the company has no plans to reduce its spending in the sector in 2023 despite the uncertainties of 2022.