Square Enix teams up with Enjin to create Final Fantasy VII NFT collectibles

Square Enix has teamed up with Enjin to create non-fungible tokens (NFT) for digital collectibles for the 25th anniversary of Final Fantasy VII.

Enjin said it will create branded tokenized collectibles using the Efinity Network, which is a decentralized cross-chain network designed to make NFTs more accessible.

This move is no surprise, since Square Enix signaled it would make investments in innovative technologies like blockchain even as it sold off its Western game studios. Some players are going to hate this move, as they associate NFTs with fraud, wasted energy and monetization schemes. But Square Enix has signaled that NFTs are key to future business models.

The digital collectibles will be available to consumers who purchase items in the physical collection, which is expected to launch in 2023.

Consumers can pre-order the memorable action figure starting today at the Square Enix Store. The deluxe physical product will include a code that can be redeemed for a digital version of the figure using the Efinity network, a next-generation blockchain for NFTs, powered by Enjin. Pre-orders for the trading cards will go live later this year.

Enjin said it provides an alternative destination for environmentally conscious blockchain developers, investors and users. Collectibles is supported by Enjin’s complete suite of products, which the company said provides environmentally friendly solutions for building decentralized gaming products.

Enjin has stated that it is committed to carbon neutral NFTs by 2030 and is building the foundation of Efinity on the most carbon efficient network, Polkadot. As a signatory to the Crypto Climate Accord, Enjin strives for a decarbonized and sustainable cryptocurrency industry.

“This partnership marks a growing phase for digital assets and entertainment; Square Enix, a renowned developer with iconic intellectual property, is paving the way for the industry, Witek Radomski, Enjin CTO, said in a statement. “Using Efinity, fans can experience interactive NFTs without even realizing they are on the blockchain. Enjin can establish the next phase of growth in blockchain entertainment, combining curiosity and creativity.”

Square Enix uses the Efinity blockchain and the Enjin Open Platform toolkit to seamlessly integrate, manage and launch its digital collectible. Efinity blockchain offers its users the benefits of efficiency, depth and employability, Enjin said.

Enjin said its NFT technology stack enables wholesale management of Square Enix collectibles on the eco-friendly Efinity blockchain network, using NFT.io and Enjin Wallet as the non-exclusive secondary marketplace and wallet solution for users, and Enjin Beam for its unique and available QR code NFT distribution system.