Gaming heavyweight Square Enix has reportedly disclosed via its report for Q1 earnings details of its NFTs expansion into an increasing number of game products, per its medium-term business strategy in 2022.

Specifically, Square Enix (SE) reportedly operates as a Japan-based game development giant, currently managing $3 billion worth of assets, as revealed in its most recent earnings report. The firm was behind the Final Fantasy property and sold the Tomb Raider franchise for $300 million on May 3.

Per the report, the company reportedly carried out testing phases for NFTs on the Shi-San-Sei Million Arthur game beginning February 2022.

The recorded success of the pilot program will reportedly result in the second season of the game’s NFTs, with the ultimate vision the firm ensues is to pursue broader activities in the NFT and blockchain sectors.

Throughout the most prioritized projects in terms of blockchain, SE reportedly has plans down its pipeline to provide regulatory clarity and guidelines for blockchain games, coming up with scalability in NFT economies, as well as pondering upon the decision of establishing a corporate capital venture arm.

The company additionally claimed that it seeks to found an overseas entity that will be in charge of “issuing, managing, and making investments in our own tokens”, which is a signal revealing that the company will start developing an expansive gaming-token economy.

SE has been collaborating with Web3 gaming and metaverse venture capital entity Animoca Brands to deep-dive into different options throughout the blockchain gaming sphere. Cooperation between the two firms is expected to grow as SE delves further into the ecosystem.

“Square Enix has already been talking about the potential of blockchain games for a long time, so it gets it better than most of the traditional gaming giants out there.” Animoca’s executive chairman Yat Siu further shared a belief that Square Enix’s influence in gaming will offer great assistance in its voyage of establishing a strong presence across the blockchain gaming space.