Square Enix to accelerate Web3 game development in the fiscal year ending March 24
Accelerate blockchain game development
Major game company Square Enix Holdings (Square Enix) announced its financial results for the fiscal year ending March 23 on the 12th.
In the materials of the financial results briefing, the blockchain business is cited as an “initiative to achieve further growth.” He explained that becoming a “pioneer” is the key to achieving overwhelming results, and that he will continue investment activities globally while simultaneously promoting business verification and monetization through title releases. He also listed “acceleration of blockchain game development” as a priority policy for the fiscal year ending March 2012.
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The company’s net profit for the fiscal year ended March 2011 was approximately 49.2 billion yen, down 3.4% from the previous year. Sales decreased by 6.0% year-on-year to approximately 343.2 billion yen, and operating income decreased by 25.2% year-on-year to approximately 44.3 billion yen. Compared to the previous year when “OUTRIDERS” and other titles were released, the decrease in revenue from new titles was cited as a factor in the decrease in sales.
As for initiatives related to the blockchain business, he introduced the NFT-related projects “Asset Million Arthur” and “SYMBIOGENESIS”.
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Regarding Asset Million Arthur, he explained that he started selling the 6th NFT from April 23. It states that more than 75% have been sold and the sets and characters have been sold out, that the cumulative number of NFTs issued has reached 140,000, and that it has won first place in the transaction ranking by item token on LINE Blockchain. ing.
Regarding the verification of business using public blockchain, he said, “We will inherit the know-how of the domestic limited asset million Arthur and work on verification and issues of Web3 business.”
He also explained that the NFT collectible art project SYMBIOGENESIS is still under development. SYMBIOGENESIS said that it will sell Square Enix’s first NFT collectible art with a new IP (intellectual property), and said that it plans to sell about 10,000 NFT art.
SYMBIOGENESIS’ efforts so far include releasing PV videos and opening a “Discord” for the community.
What are NFTs?
Abbreviation for “Non-Fungible Token”, a digital token that cannot be replaced and has a unique value. The technology is widely used in games, music, art works, and various certificates.
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Challenges in the Web3 domain
In addition, in the materials of the financial results briefing, we introduced the following initiatives in the fiscal year ended March 2011 under the item “Challenges in the 3 Web domains”.
- Established Blockchain Entertainment Division
- Capital and business alliance with gumi (joint investment with SBI Holdings)
- Investment in 8 overseas companies and 3 domestic companies (including token investment)
Source: Square Enix
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Regarding future initiatives in the blockchain entertainment field, we are considering establishing a “CVC (Corporate Venture Capital)” to diversify investment methods, and preparing to establish an overseas corporation to develop the Web3 business. It also states that
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