Square Enix launches first NFT project on Enjin’s Efinity Blockchain

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 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 first NFT project on the Efinity blockchain. The leading video game developer has partnered with Enjin to create NFTs based on the popular game “Final Fantasy VII”.

This is not Square Enix’s first project since it announced its intention to enter Web3. The creator of the Final Fantasy game series has previously partnered with leading Web3 game company The Sandbox to bring the Dungeon Siege game to the metaverse.

Recently, Square Enix sold one of its most popular gaming IPs, Tomb Raider, along with several others to the 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 that 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 that can be redeemed for NFTs. The company also plans to launch digital trading cards that come with redeemable NFTs later this year.

Final Fantasy VII envisions dying worlds where freedom fighters fight against large corporations to stop them from killing the planet.

The company has taken the game’s history into account to avoid blockchains that consume huge amounts of energy. Square Enix has chosen Enjin’s layer-1 proof-of-stake blockchain to ensure that the carbon footprint does not conflict with what the characters in the famous video game are trying to achieve, save the planet.

Since the transition from mainstream gaming to the blockchain became a trend, several video game studios have chosen not to make the switch. And on a few occasions, those who embraced blockchain gaming have faced significant backlash from their communities.

Some like GSC Game World’s intention to add NFTs to STALKER2 have had to backtrack, while others like Netmarble on Ni No Kuni stayed the course. Ubisoft’s plans to roll out in-game crypto on Ghost Recon also appear to have stalled after consistent community pressure.

However, the global gaming giant remains relatively active in blockchain gaming projects through funding, consulting and partnerships.

Keep yourself updated: