Square Enix invests in Web3 and NFT gaming platform HyperPlay

Japan’s Square Enix, the tech giant responsible for the Final Fantasy, Kingdom Hearts franchises and dozens of other global gaming hits, has entered into a partnership with crypto-native Web3 games platform HyperPlay as of March 19. 

The partnership involves an investment from Square Enix in an undisclosed amount, and according to a press release, the funds will be used to expand and scale the HyperPlay game store.

Also included in the partnership, Square Enix’s “SYMBIOGENESIS,” a MetaMask-based art experience revolving around digital asset ownership, will launch on the HyperPlay storefront.

Hideaki Uehara, general manager of investments at Square Enix, called the investment and partnership “very exciting” in a press release, adding that the company believes that “the HyperPlay team has built an extraordinary product for improving the distribution of games and creating new business models that are more beneficial for game developers.”

This investment and partnership comes amid a renewed push from Square Enix executives to modernize the company’s organizational structure to support blockchain, Web3 and artificial intelligence (AI).

Related: Square Enix will modify organizational structure to support blockchain, Web3, AI in 2024

JacobC.eth, founder of HyperPlay, said in a press announcement that the investment will aid HyperPlay in meeting its mission to upend the gaming sector:

“We believe many of the greatest problems originate from the legacy distribution platforms which prevent game developers from fully leveraging what web3 has to offer. Furthermore, as builders in the gaming space, we understand the importance of enabling new business models for gaming that align the incentives of players and developers to enable a sustainable pipeline of quality games.”

The CEO also told Cointelegraph that there was more to announce:

“HyperPlay plans to continue expanding the most Web3-native game distribution platform. We’re aggregating more game stores, bringing HyperPlay to more platforms, opening…..

Read More

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from Investor News Blog Finance Exchange News

Subscribe now to keep reading and get access to the full archive.

Continue reading