Square Enix made $394 million in profit last year and continues to talk about blockchain

Square Enix has announced its results for the fiscal year ending March 31, 2022, and the take-home message is that it has made a lot of money, and a lot of that money is going to the blockchain. The results document shows that the company had sales of ¥365.2 billion (about US$2.82 billion) and had a profit of ¥51 billion (US$394 million). That profit is almost double what Square Enix has made in recent financial years, but even so, interestingly, Konami is still more profitable than.

Among its products, Square Enix identified Final Fantasy XIV’s Endwalker expansion as performing well, but was largely muted about the ‘HD games’ category, which included games like Babylon’s Fall and Outriders. Or, as the report says, sales “didn’t reach the level seen last year when we launched big titles.” There!

As a brief aside, that list included Balan Wonderworld: the game that saw Sonic creator Yuji Naka and Square Enix in court, and the famous designer going nuclear in public. Square Enix was asked about this in the Q&A that followed the publication of the results, and just confirmed the process and said “is a game we recommend with confidence” without further comment.

The text accompanying the numbers went into detail about Square-Enix’s plans for the future which, like the traditional parts of its business, are heavily geared towards investing in blockchain, AI and cloud, which the publisher calls “fields of focus”. “

(Image credit: People Can Fly)

This is not a big surprise: the president of Square Enix was beating the drum on the blockchain for a whileand it looks like the company is fully committed.

“Encouraged by the results and feedback from our NFT business, we have decided to produce a second season. [of Shi‐San‐Sei Million Arthur, a Japan-only card battler]. Our plan is to incorporate gaming content into our service and leverage the development and operational experience we have accumulated in our existing businesses to explore the potential of NFT earnings structures, breadth of play and proprietary experiences in the NFT business.”

The document goes on to describe Square-Enix’s intentions to issue “unique fungible tokens and design earning structures/communities (UGC, governance, guilds, etc.)”. focused creatives” are working on “launching a new NFT and IP brand”.

Other things to expect is that the publisher wants to “issue, manage and invest our own tokens”. So expect to be able to buy CloudCoin at any time. Square Enix describes some of its major investments, most notably in Animoca Brands in Australia, which is working on the sandbox, which the editor describes as a “decentralized metaverse”. He says he is also considering “multiple potential global investments” not mentioned in these results.

So: now you know where all this money comes from whip Deus Ex and Tomb Raider will end. Tifa Lockheart’s NFTs! In fairness to Square Enix, it also mentions its intention to establish new studios and cultivate other, presumably non-crypto, new projects and IP. But make no mistake: the Japanese giant sees much of its future production using these technologies.

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