Square Enix NFT Letters Lead to Massive Stock Boom, Despite Fan Backlash

Square Enix President’s letter about NFTs resulted in a spike in shares in the first day of trading that followed, despite the backlash from fans.

On New Year’s Day, Square Enix President Yosuke Matsuda posted an online letter sharing interest in metaverse, NFTS, Blockchains, etc., detailed plans to incorporate them into the company’s plans for 2022. This spread like wildfire online, much to the annoyance of many Square Enix fans, but the stock market and fan base. are two completely different entities.

First of all, it should be noted that many people have understandable difficulty with Square Enix. NFTs have been a point of contention and controversy since the term was coined, but some of the language in the letter is also not entirely grounded. Matsuda wrote that he realizes “some players ‘play for fun’ and those who currently make up the majority of players have voiced reservations about these new trends.” Many people assume this means that playing games for fun is not simply enough.

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This particular language and NFT use has gone unnoticed online, with Final Fantasy 14 players beg Square Enix not to accept NFT. Now, in a new report from Bloomberg, it has been revealed that shares of Square Enix jumped 8% in the first day of trading after the letter was published (Tuesday in Tokyo). This is Square Enix’s biggest jump since August, as reported by Bloomberg.

Contrary to the ‘play for fun’ comment above, Matsuda believes that there are some people who are motivated by ‘play for fun’ “I mean to make the game more interesting…[t]Thorough gaming does not provide a clear motive for the latter group of people. Not sure how this will come into play, but an online comparison looks worth sharing.

Roughly speaking, it’s NFT in MMO, potentially games like Final Fantasy 14, wouldn’t really be recommended as some might think. If an MMO player sees someone else with a certain set of armor right now, they know what they have to do (quests, etc.) to get that armor for themselves. Seeing someone with a suit of armor with NFTs playing can just indicate that they are well off, financially well off, and essentially motivated to play realistically.

Regardless of how that comparison fits with Square Enix’s plans, it’s a double-edged sword for now: shareholders like it, players don’t. The in-game NFTs have so far garnered all sorts of results, with Ubisoft’s CEO claiming they’re here to stay (but are here to stay). NFT in Ghost scout not selling well). Stalker 2Their developers intended to include them until the backlash from fans, pulling back plans for the feature in just two days. Above NFT, It takes two Creator Josef Fares says he’d rather get shot rather than putting them in the game. At the end of the day, it remains to be seen what actually comes of this trend.

THAN: Final Fantasy 15’s canceled DLC recall

The source: Bloomberg

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