Right
方 supplies the sound — fāng shifting to fǎng with a tone change.
方 itself originally depicted a plough handle, also a square. Same phonetic links
纺 with
防 (defend),
房 (house),
访 (visit),
仿 (imitate) — all in the fāng/fǎng family. Choose
方 here purely for the sound, not the meaning.