Quick take:
- Square Enix has finally kicked off its Web3 journey with its first NFT project.
- The Japanese video game developer has teamed up with Enjin to launch NFTs based on characters from the Final Fantasy VII game.
- The 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 its popular game “Final Fantasy VII”.
This is not Square Enix’s first project since announcing its intention to foray into Web3. The Final Fantasy game series creator previously partnered with the leading Web3 gaming company The Sandbox to bring the Dungeon Siege game 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 gaming.
And now, it is beginning 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 21, NFT enthusiasts will be able to pre-order physical action figures that come with codes redeemable for NFTs. The company also plans to launch digital trading cards that come with redeemable NFTs later this year.
The Final Fantasy VII envisions dying worlds where freedom fighters battle huge corporations to stop them from killing the planet.
The company has taken the game’s storyline into consideration avoiding blockchains that consume massive amounts of energy. Square Enix has chosen Enjin’s layer-1 proof-of-stake blockchain to ensure its carbon print down not go against what the characters in its famous video game try to achieve, save the planet.
Since the transition from mainstream gaming to the blockchain became a trend, several video game studios have opted against making the shift. And in a few occasions, those that embraced blockchain gaming have faced significant backlash from their communities.
Some like GSC Game World’s intention to add NFTs to S.T.A.L.K.E.R.2 have had to walk back plans, while others like Netmarble on Ni No Kuni stayed the course. Ubisoft plans to roll out in-game crypto on Ghost Recon also seem to have stalled after consistent pressure from the community.
However, the global gaming giant remains relatively active in blockchain gaming projects through financing, advisory and partnerships.
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