Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

Square Enix, Ubisoft, and many other traditional publishers are shifting their focus toward blockchain technology, web3, and NFT games. As web3 technology transforms the gaming industry, several web2 video game publishers around the world are dabbling in NFT games in order to stay ahead of the competition. These publishers are refocusing their efforts on incorporating blockchain technology, cryptocurrencies, and NFTs into video games. Some of the world's largest gaming companies are gradually showing interest in Web3, with platforms such as PC shooters, mobile games, and multiplayer metaverse games in mind. Furthermore, the majority of the game publishers on our list have their headquarters in Asia, with only one in the United States and one in Europe. This dominance corresponds to DappRadar's prediction that Asia will become a Web3 gaming hub. In this article, we'll look at some notable game publishers who are launching new projects in the web3 gaming market.

This week we saw many activities in the Web3 gaming industry ranging from Gala Games rolling out the new token to Square Enix and Elinix Games joining hands. Moreover, there was also news about Community Gaming laying off employees, some alpha playtests, and new season rollouts. Blockchain gaming developers are hard at crafting alphas and inviting players to test them. We had Ember Sword Alpha playtest, a new Genesis tournament in Undead Blocks, Alpha Season Two of Axie Homeland. Additionally, another promising alpha is on the cards where we shall play the alpha 2.0 from Citizen Conflict. More updates on games, we have Otherside introducing Legends of the Mara, and MegaWorld implements Cross-chain dependencies.

The partnership between Elixir Games, a major web3 PC game seller, and Square Enix, is expected to create a powerhouse that will incorporate blockchain technology into the way games work. Square Enix's interest in web3 gaming and its interactive Web3 project, Symbiogenesis, suggest that the two companies will work together to create new gaming experiences that leverage web3 technology. Elixir's recent integration with Epic Games and its position as the most important PC game distributor on the open web3 market make it an ideal partner for Square Enix. The partnership will allow millions of gamers to discover high-quality web3 games seamlessly.

Next year, Square Enix will release its first NFT blockchain game. Plans for the future show that Web3 games will still be on its list.

Urvit Goel of Polygon says that 2023 will be a big year for the Web3 industry and metaverse. He says that this is when we will see high-quality blockchain games.There are a lot of hopes for blockchain games, and many people expect them to live up to those hopes. Since 2023 is a "put up or shut up" year, it's likely that things will work out. But it's more likely that we'll see great Web3 games that are already being made by people with a lot of experience making games. Urvit Goel, Vice President of Games at Polygon, talked to VentureBeat about how important 2023 will be for the blockchain gaming industry. He also talks about the role that Polygon is playing in making the change happen.Goel said that 2023 will be a big year for the gaming industry, especially in terms of how blockchain technology is used. People will pay close attention to the promises made about upcoming games, and it's important that results start to show. Many developers are still in stealth mode and haven't put out any products yet. As more games come out, it will be easier to figure out how good they are and where the industry is headed. Polygon is making progress in the right direction, as it recently integrated Magic Eden into its chain. Additionally, blockchain games like The Sandbox, Decentraland, and more have embraced Polygon. However, it isn't as easy as it sounds, especially after the FTX collapse and the raging crypto winter. Despite the challenges, Dappradar reports that the Web3 blockchain gaming sector saw more than $500 million in investments. Goel facilitates the integration of cutting-edge technologies and marketplaces into the development process. He does this with a view to producing superior products. In support of this, Polygon has created a fund worth $100 million to invest in Web3 gaming and related sectors. A significant portion of this funding has been provided from the company's own resources, derived from a previous funding round that generated $450 million.Goel says that the blockchain gaming industry is growing up very quickly. At first, most people were interested in how blockchain and cryptocurrencies could be used to make money. This made games that were easy to understand and didn't impress serious gamers. Goel, on the other hand, thinks that the industry has reached a point where good games are being made. This shows a change toward becoming more mature and trustworthy.Goel says that the only developers left in the blockchain gaming industry are those who are very dedicated to making high-quality games that gamers will enjoy. Most of the time, these teams have a lot of money and all the tools they need to make great games. On the other hand, Web2 developers who move into Web3 projects are also likely to make a difference in the field. Even though the business has changed recently, Goel doesn't see any signs of a slowdown in the near future.

Square Enix’s Web3 project Symbiogenesis has updates. It partners with the Polygon blockchain network to offer players fast, secure transactions. An experience centered around digital collectible art and a virtual turn-based adventure will be created through Symbiogenesis.

In a interview, Yosuke Matsuda, the president of Square Enix, reiterated that the future of video games will feature blockchain technology.

Square Enix joins other gaming companies in the race to conquer the uncharted territories of NFT and blockchain gaming.

Minecraft game developer Cory Scheviak said, “For us as game developers, NFT's change the meaning of what a game is, and that is worrying

Square Enix, the renowned video game company behind titles like Final Fantasy and Dragon Quest, is making significant moves in the blockchain gaming sector despite the recent challenges facing the crypto and blockchain game industries.In 2021, crypto and blockchain games experienced a surge in popularity and investment, but in 2022, they faced a downturn in the bearish trend. However, Square Enix has reaffirmed its commitment to blockchain gaming projects in 2023, signaling a continued focus on the sector.Square Enix, known for its blockbuster IP Final Fantasy, is now exploring the integration of blockchain technology into Web 3.0 games. The company is actively working on multiple blockchain games, distinct from its famous IPs. Yosuke Matsuda, the president of Square Enix, has expressed the company's dedication to the blockchain gaming sector and its willingness to invest in promising businesses both in Japan and abroad.Matsuda acknowledged the challenges faced by the gaming industry in 2022, such as the FTX collapse in November, but he remains optimistic about the growing adoption of Web 3.0. He believes that blockchain games will enter a new phase of growth in 2023, following the turbulent period of excitement and turmoil in the blockchain space.Square Enix's flagship blockchain game project, Symbiogenesis, is a digital experience that allows players to collect art and tell stories. The gameplay involves decisions on whether to monopolize or share information with other players in the community.Apart from Symbiogenesis, Square Enix is acting as a strategic advisor for Cross the Ages, a digital collectible trading card game utilizing the Polygon blockchain. The company has also invested in Zebedee, a Bitcoin gaming startup, and has stakes in the popular blockchain game, The Sandbox. Square Enix intends to reintroduce the highly anticipated game "Dungeon Siege" as an in-game experience within The Sandbox.Square Enix's expansion into blockchain gaming is further evident with its plan to launch Final Fantasy NFTs on the Polkadot blockchain. These NFTs will be associated with Final Fantasy VII, in addition to physical trading cards and toys. The company's push into blockchain gaming was facilitated by a $300 million deal in which it sold its internal gaming studios in the West, along with major IPs like Tomb Raider and Deus Ex, to Embracer Group.Square Enix is not the only traditional gaming publisher venturing into blockchain gaming. Ubisoft has launched its first NFT-enabled game, Ghost Recon: Breakpoint, and has made investments in crypto gaming studios. Take-Two, the parent company of Rockstar Games, has entered the NFT space through its casual game studio, Zynga. However, Rockstar remains opposed to NFTs, banning them on GTA V servers. Valve, the operator of the popular game marketplace Steam, has shown no interest in accommodating blockchain or NFT games on its platform.Overall, Square Enix's commitment to blockchain gaming reflects a broader trend in the gaming industry, with traditional publishers exploring new opportunities in the Web 3.0 and blockchain gaming space.

It seems like the wave of NFTs has lost its momentum as its once staunch supporters in the gaming industry are now running away from it.

Discover Square Enix's exciting plans for blockchain gaming and NFT projects, including an anniversary art collection and new NFT game.

Weekly blockchain gaming and Web 3.0 news roundup, including Microsoft's investment, FIFA Web 3.0, Square Enix, and more. 

Exciting video gaming development in NFT games as Japanese big game studio Square Enix announces its first Web3 project