We are now officially in that time of the year when financial reports start flying around the digital room, so today we turn our attention to Square Enix. According to its Q3 earnings report, while gaming in general saw lower earnings compared to the same period last fiscal year, the MMO segment continues to grow, propped up once again by Final Fantasy XIV.
The company’s net sales from digital entertainment were down by 16% when compared to the same quarter last year, driven primarily by low sales of its HD games (aka single-player titles) like Live A Live and Dragon Quest X. However, the report also points out that Q3 has been another quarter of growth for its MMO segment thanks to rising net sales from subscribers to FFXIV compared to Q3 2021.
Squeenix still looks to be extremely bullish on NFTs and blockchain tech, as its middle-term business strategy continues to push the scheme. Last week saw the company announce an NFT project known as Symbiogenesis, described as a new franchise that lets players turn characters from the game into NFT collectibles tied to the Etherum blockchain. It also promises players will untangle a mystery by completing missions tied to a story about “monopolization and distribution of resources.” You can’t make this stuff up. NFTs are scheduled to release in spring 2023.
Further blockchain inroads will include NFTs commemorating the 10th anniversary of Shi-San-Sei Million Arthur and investment in the Bitcoin platform ZeBeDee and blockchain game developer Animoca Brands, creators of the play-to-earn racer Torque Drift 2 and NFT metaverse The Sandbox.