Square Enix and Crypto

[Ezzeloharr]

I was extremely disappointed to read this morning that Square Enix is embracing NFTs and other crypto-related schemes (as seen in this letter from the President of Square Enix, Yosuke Matsuda).

Much has already been said about environmental harms caused by existing approaches to crypto mining, notwithstanding potential (and, as-of-yet, largely unproven) ostensibly less-harmful alternatives. It is also plain for anyone with eyes to see that the crypto world is chock-full of scam artists, Ponzi schemes, and various other frauds. Beyond this, however, the continued financialization of gaming is a troubling development. Games have already seen the advent of paid downloadable content (some of which is fine!), microtransactions, extortive battle-pass type systems, not to mention lootboxes and the like. The last thing we need is yet another avenue for game publishers to extract revenue from their players.

In his letter, Matsuda writes:

I realize that some people who “play to have fun” and who currently form the majority of players have voiced their reservations toward these new trends, and understandably so. However, I believe that there will be a certain number of people whose motivation is to “play to contribute,” by which I mean to help make the game more exciting. Traditional gaming has offered no explicit incentive to this latter group of people, who were motivated strictly by such inconsistent personal feelings as goodwill and volunteer spirit.

Couching further financialization of gaming as catering to a heretofore purportedly underserved market of people who "play to contribute" is laughable at best. Games are not some new medium; I find it hard to fathom that there is some large market waiting to be served games which they care not to play, but instead to "contribute" to in some way. Frankly, it's hard for me to imagine what is even meant by this. Is tossing a Raise to a fallen adventurer in Bozja not contributing to the game?

On a personal level, this is a very disappointing development. I've been playing FFXIV since the second or third ARR beta, and truly love the work that YoshiP and the FFXIV team have done. However, I am loathe to contribute to the financial success of a company seeking to further financialize gaming, again notwithstanding the other rampant issues with crypto-related technologies.

Gonna have to think hard about whether to continue my subscription in light of this development.

[Conundrum]

Crypto can't implode fast enough to satisfy me.

[Rokke]

Crypto can't implode fast enough to satisfy me.

This, really. Doubly disappointing that they're trying to spin it as a community boon too.

[Veridiano02]

Crypto can't implode fast enough to satisfy me.

Best comment ever.

[Bearded]

SE owns a number of IPs and they often market collectibles for them. NFTs are just a new bubble waiting to burst so don’t overthink the press release.

[Risvertasashi]

This is like those "name a star" private registries from the previous decades. Utterly meaningless, though crypto's far worse for the environment. Disappointing to see SE embrace such schemes, not even because of ethical/moral issues but because... it's certainly not a decision that speaks to having an abundance of wisdom.

Well, their choice I guess.

[Saraide]

Wow this statement would hit every spot on a investor buzzword bingo, incredible.

[Xtro99]

Wow this statement would hit every spot on a investor buzzword bingo, incredible.

That's because that letter was written for investors. I don't think there's a single human being that's interested in having fun playing videogames that wasn't constantly asking "what?" to him or herself while reading that letter.

[Moonlite]

Not sure why this is even news. SE has supposedly some of the most predatory cash shop mobile games in Japan, where it is more accepted. If EA announced that they had some crypto tomorrow wouldn't shock me either.

[Drikanis]

Very well said. This is a very disappointing direction for them to take. Honestly, though, I doubt their president even knows what blockchain is, let alone what it can and cannot do. All they know is that those terms get investors excited, and they would be leaving money on the table if they didn't at least say that they are looking into it.