Quick Take:
- Square Enix has finally started its Web3 journey with its first NFT project.
- The Japanese video game developer has teamed up with Enjin to release NFTs based on characters from the Final Fantasy VII game.
- NFTs will be auctioned on Efinity, a Layer 1 proof-of-stake blockchain ecosystem.
Square Enix has launched its inaugural NFT project on the Efinity blockchain. The leading video game developer has partnered with Enjin to create NFTs based on their popular game “Final Fantasy VII”.
This isn’t Square Enix’s first project since announcing its intention to foray into Web3. The creator of the Final Fantasy game series previously partnered with leading Web3 game company The Sandbox to bring Dungeon Siege to the metaverse.
More recently, Square Enix sold one of its most popular gaming IPs, Tomb Raider, along with several others to Embracer Group, in a deal worth $300 million. At the time, Square Enix said it wanted to focus on blockchain games.
And now, it’s starting to implement the new strategy by bringing non-fungible tokens (NFTs) to Final Fantasy VII, a remake of the iconic game series released in 2020.
Starting July 21st, NFT enthusiasts will be able to pre-order physical action figures that include NFT redeemable codes. The company also plans to launch digital trading cards featuring redeemable NFTs later this year.
Final Fantasy VII envisions dying worlds where freedom fighters battle against large corporations to prevent them from killing the planet.
The company has taken into account the history of the game to avoid blockchains that consume massive amounts of energy. Square Enix has chosen Enjin’s Layer 1 proof-of-stake blockchain to ensure that its carbon footprint doesn’t go against what the characters in its famous video game are trying to achieve, save the planet.
Since the transition from mainstream games to blockchain became a trend, several video game studios have chosen not to make the switch. And on rare occasions, those who have embraced the blockchain game have faced significant backlash from their communities.
Some, like GSC Game World’s intention to add NFT to STALKER2, have had to push back on plans, while others like Netmarble’s Ni No Kuni stayed the course. Ubisoft’s plans to launch in-game cryptography in Ghost Recon also seem to have stalled after constant community pressure.
However, the global gaming giant remains relatively active in blockchain gaming projects through funding, advisory and partnerships.
Stay up to date: