Square Enix invests in Web3 and NFT gaming platform Hyperplay
Japan's Square Enix, the tech giant responsible for the Final Fantasy and Kingdom Hearts franchises and dozens of other global gaming titles, has entered into a partnership with crypto-native web3 games platform Hyperplay as of March 19.
The partnership includes an investment from Square Enix in an undisclosed amount, and according to the press release, the funds will be used to expand and expand the HyperPlay game store.
Also included in the partnership is Square Enix's “SYMBIOGENESIS,” a Metamask-based art experience revolving around digital ownership, which will debut at the HyperPlay storefront.
Hideki Uehara, chief investment officer at Square Enix, called the investment and partnership “extremely exciting” in a press release, adding that the company “believes that the HyperPlay team has built an extraordinary product to improve the distribution of games and create new business models that are more beneficial to game developers.”
This investment and partnership comes on the heels of 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 Shift Organizational Structure to Support Blockchain, Web3, AI by 2024
In a press release, Hyperplay founder JacobC.eth said the investment will help Hyperplay achieve its mission to grow the gaming industry.
“We believe that many of the biggest problems stem from legacy distribution platforms that prevent game developers from taking full advantage of what Web3 has to offer. Additionally, as developers in the gaming space, we understand the importance of enabling new business models for gaming in order to keep players and developers motivated for a sustainable quality gaming pipeline.”
The CEO told Cointelegraph that there is much to announce:
“HyperPlay plans to continue expanding its highly Web3-native game distribution platform. We're adding more game stores, bringing HyperPlay to more platforms, opening new distribution channels to drive more players to games, and improving the user experience around Web3 games. We're planning feature launches and similar in the near future.” You can expect many to back away from ads.
A Hyperplay representative told Cointelegraph that the company plans to soon announce expanded access to the platform for users on Mac.
The company's Q2 2024 plans include an upcoming integration with Amazon to bring Prime users into the HyperPlay ecosystem.
According to a company representative, “Users with an Amazon Prime membership can launch Amazon Prime Gaming titles from within HyperPlay and also redeem exclusive Prime Gaming benefits, free games and other benefits directly from the HyperPlay store.
