Square Enix Plans to Release Final Fantasy NFTs with Enjin

Prominent game developer Square Enix announced its partnership with NFT platform Enjin (ENJ). Through this collaboration, both companies aim to launch a digital and physical collection of Square Enix’s hit video game series Final Fantasy. The anticipated collection will feature characters from Final Fantasy VII, in particular.

According to Enjin, users will be able to claim NFTs if they pre-order Final Fantasy VII’s 25th-anniversary products at Square Enix’s store. The purchased items will then come with a code for a digital collectible counterpart. Owners may redeem the tokens through the NFT platform Efinity network later in 2023. Witek Radomski, chief technology officer at Enjin, believes this recent partnership paves the way for other big gaming firms looking to enter the blockchain industry. Radomski also added that more big-name developers will most likely join blockchain gaming once the bear market settles down.

Square Enix has been making significant moves within the Web3 gaming space. In 2020, the company led an investment round for The Sandbox (SAND) enabling the platform to raise $2 million. Earlier in May, Square Enix also announced that its 2022 business strategy includes more plans to release NFTs and further invest in the nascent industry.

Just last week, the game developer participated in a Series B funding round for bitcoin gaming startup Zebedee which was able to raise $35 million. To further its blockchain initiatives, Square Enix also sold some of its video game franchises and game studios. These included the games Tomb Raider and Deus Ex as well as its game studios Crystal Dynamics and Square Enix Montréal.

In January, Square Enix President Yosuke Matsuda wrote about the potential of NFTs and other associated technologies. “By designing viable token economies into our games, we will enable self-sustaining game growth,” explained Matsuda. However, this was not well-received by some fans and gamers due to a myriad of issues such as environmental impacts and scams.

Sources: CoinTelegraph, Decrypt