Square Enix Revenues Drop Over The Past Year As The Studio Dives Deeper Into Blockchain

Square Enix has released its 2022-2023 fiscal year report and the results aren’t great for the company’s primary gaming divisions. With total net revenues down by 6%, profit dipping by 3%, and a 13% drop in overall digital entertainment revenue, the report points out that disappointing sales of new HD games, underperformance of new mobile games, and the lack of a new expansion for Final Fantasy XIV contributed to the decline.

Despite these lackluster results, Square Enix still seems optimistic about its blockchain gaming aspirations. In its opening statement to investors, the company announced its mission to “create new excitement of a sort never seen before using new technologies and new ways of thinking.”

“Blockchain technology presents us with the challenge of seeing what sort of new excitement we can create with it. We will remain aggressive in taking on this new field,” the company wrote.

While the report doesn’t paint a rosy picture for Square-Enix, it does show that the company is committed to pushing the envelope and exploring new possibilities regardless of the generally negative views on their decision to dive into blockchain gaming.