Square Enix president Yosuke Matsuda has published a new letter to celebrate the new year and let fans and investors know what to expect from the company going forward.
Matsuda touched on subjects like the metaverse, NFTs, blockchain, and more. Starting with the metaverse, Matsuda said Facebook's decision to change its name to Meta demonstrates that the metaverse as a concept "is not a mere buzzword but here to stay."
Matsuda said the metaverse will become more of a commercial product in 2022, and it might end up having some applicability to Square Enix in the future.
"The metaverse will likely see a meaningful transition to a business phase in 2022, with a wide range of services appearing on the scene. As this abstract concept begins to take concrete shape in the form of product and service offerings, I am hoping that it will bring about changes that have a more substantial impact on our business as well," Matsuda said.
As for NFTs, Matsuda said this could become another significant business opportunity. Like others, Matsuda observed "speculative overtones" in some parts of the NFT landscape, but overall, the executive believes NFTs will become immensely popular over time.
"We do observe examples here and there of overheated trading in NFT-based digital goods with somewhat speculative overtones, regardless of the observed value of the content provided," Matsuda said. "This, obviously, is not an ideal situation, but I expect to see an eventual right-sizing in digital goods deals as they become more commonplace among the general public, with the value of each available content corrected to their true estimated worth, and I look for them to become as familiar as dealings in physical goods."