In a turnaround so rapid it's likely to cause whiplash, it looks like Square Enix may not be staking its future on NFTs and the blockchain after all. In its most recent financial report, the venerable purveyor of fine JRPGs has walked back its intentions somewhat. In an outline of the results, translated into English, Square Enix President Yosuke Matsuda, said the following:
“Rather than using the proceeds from the divestiture in new investment domains such as NFT and blockchains, we intend to use them primarily to fund our efforts to foster solid IP and to enhance our development capabilities in our core Digital Entertainment segment.”
After the sale of many of its Western studios to the Embracer Group, Square Enix had announced its intention to invest in "fields including blockchain, AI, and the cloud", which caused some concern amongst fans, as nothing screams "out of touch" more than a company deciding to jump on the rapidly-imploding NFT bandwagon.
Are you glad Square Enix has...
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