HyperPlay to Host Symbiogenesis After Strategic Investment By Square Enix

Final Fantasy maker Square Enix is planning to launch its Ethereum non-fungible token (NFT) game on HyperPlay following an investment.

The gaming giant made a strategic investment in HyperPlay, with the two companies committing to working together to transform gaming distribution models. Square Enix is now bringing Symbiogenesis to the crypto-native game launcher.

🌟 We're thrilled to share that HyperPlay has received a strategic investment from none other than @SquareEnix 💼 This partnership marks the beginning of an exciting journey as we collaborate to revolutionize gaming distribution models. 🧵 pic.twitter.com/smfQ4nBE2x

— HyperPlay (@HyperPlayGaming) March 21, 2024

While HyperPlay did not disclose the amount of funding, it marks the latest initiative by Square Enix to expand its presence in the fast-growing Web3 gaming industry.

The game developer launched Symbiogenesis in December last year. The game comprises Ethereum NFTs and other tokenized in-game assets minted on the Polygon network. The game’s launch marked a major entry of a traditional gaming player into the Web3 gaming space.

Square Enix Invests in HyperPlay

Square Enix already has a solid presence in the traditional gaming industry having been behind popular titles such as Final Fantasy and Kingdom Hearts. The game publisher has been experimenting with initiatives in the blockchain industry for several years now.

In an X (Twitter) post, HyperPlay said the recent investment stemmed from the strategic outlook adopted by the game developer to promote player ownership over gaming worlds using new and innovative business models.

While commenting on the initiative, the General Manager of Investment & Business Development at Square Enix, Hideaki Uehara, opined that the game developer believed in the potential of the HyperPlay team. As such, its investment and partnership into the company would go towards improving HyperPlay’s offerings.

“We believe 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,” Uehara said.

HyperPlay is planning to use the funding raised to promote the scalability of its game store. It also plans to work on improving the reputation of gaming and launching community features and a simple infrastructure that game developers can use for better experiences.

The recent investment by Square Enix comes after HyperPlay raised $12 million in a Series A funding round held in June last year. Its gaming store now comprises over 70 Web3 games and titles from Epic Games Store and GIG.com.

Promoting Web3 Gaming Distribution

While speaking to crypto news site Decrypt, the pseudonymous founder of HyperPlay, JacobC.eth, opined the current conflict between traditional gaming platforms and marketplaces was being driven by policies.

He noted that traditional gaming platforms failed to support blockchain games because their policies failed to accommodate the technology behind smart contracts. However, he opined that the collaboration with Square Enix would help it explore new distribution methods and stop reliance on monopolistic platforms that failed to accommodate the evolving needs of players.

Late last year, gaming store Epic Games was forced to change its policy to accommodate blockchain games. The store previously delisted blockchain games that received an “Adults Only” rating for having NFT and blockchain elements. It later changed its policy to permit these games albeit they adhere to guidelines prohibiting gambling, pornography, and obscene content.