Square Enix steps further into Web3 and NFT gaming with HyperPlay investment

While the exact amount of the investment amount remains undisclosed, HyperPlay will use the funds to expand and scale its game store

Date Type Companies involved Size
March 20th, 2024 investment Square Enix Not disclosed
Square Enix steps further into Web3 and NFT gaming with HyperPlay investment

Final Fantasy developer and publisher Square Enix has partnered with Web3 games platform HyperPlay as it aims to explore new avenues within the Web3 gaming realm.

While the exact size of the investment remains undisclosed, HylerPlay have announced that they will use the funds to expand and scale its game store as well as add more platforms, stores and entertainment features in future updates.

As part of the collaboration, Square Enix's SYMBIOGENESIS, an art experience centered on digital asset ownership and powered by MetaMask, will debut on the HyperPlay storefront.

Improving game distribution

Hideaki Uehara, general manager of investments at Square Enix says the investment and partnership is a “very exciting” one in which “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.”

Despite a slowdown in blockchain and Web3 investment, Square Enix remains committed to its plans, showing confidence in these nascent technologies. This investment and partnership also coincides with a renewed effort from Square Enix executives to update the company's organizational structure, aligning it with the needs and possibilities arising from blockchain, Web3, and AI.

Embracing nascent technologies

“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," said HyperPlay founder JacobC.eth. “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.”

With Square Enix now onboard the Final Fantasy maker has once more proven that it sees the way ahead as  embracing blockchain and Web3, despite surprise among its more hardcore gaming fans. Right now it seems like they have a point to prove and are eager to reclaim their position at the top by differentiating themselves from their rivals and traditional expectations.

Square Enix is now the latest company to invest in HyperPlay after the platform previously secured a $12 million Series A round led by Griffin Gaming Partners, Bitkraft and Delphi, with support from Consensys and Game7, among others.

Staff Writer

Isa Muhammad is a B2B writer and video games journalist with 5+ years experience covering games, interviewing industry professionals, tracking industry trends and understanding the market.