Video games publisher Square Enix collaborates with Enjin’s Polkadot-based Efinity platform in releasing Final Fantasy NFTs in 2023.
Japanese video game publisher Square Enix, the company behind the smash hit Final Fantasy franchise, has collaborated with blockchain gaming firm Enjin. The partnership is for the release of Final Fantasy NFTs sometime in 2023. The NFTs are set to be released through Enjin’s Polkadot-based Efinity platform.
However, the Final Fantasy NFTs won’t be purely digital products. These would be tied to actual action figures and trading cards based on the hit role-playing game (RPG) Final Fantasy VII. The release of the NFTs will commemorate the 25th anniversary of the original PlayStation game.
Final Fantasy NFTs and Action Figures
Ahead of the NFTs, Square Enix will first release packs of physical trading cards. There is no specific date yet, but the cards will be out in the spring of 2023 and cost $4 per pack of six cards. Each pack will come with a code that can be redeemed for a Final Fantasy NFT trading card, which Enjin will mint on its Efinity platform.
By November 2023, Square Enix will release a limited edition action figure of Cloud Strife, Final Fantasy VII’s main protagonist. The action figure and its “Digital Plus Edition” will come with a redeemable code for an NFT certificate of authenticity.
Nevertheless, only the digital edition will be released with an additional NFT—a digital replica of the actual action figure. The standard action figure will sell for $130, while the Digital Plus Edition is pegged at $160.
Fans can already pre-order the physical action figures, while pre-orders for the trading cards will be made available later this year.
Incidentally, the Efinity blockchain runs on Polkadot, a somewhat dedicated subnet part of Polkadot’s general ecosystem. Unlike the Ethereum blockchain, which is highly associated with NFTs, Polkadot utilizes a proof-of-stake consensus model without requiring energy-intensive mining.
Square Enix and Enjin’s Collaboration
According to Enjin’s Chief Technology Officer, Witek Radomski, this isn’t a new partnership between them and Square Enix. Several years ago, Enjin hosted websites for online guilds that play Final Fantasy XIV.
What makes this new partnership unique is its timing, having come at a time when Square Enix is showing a growing interest in blockchain technology and NFTs. Square Enix considers the Final Fantasy franchise its most valuable asset, having sold 168 million games globally since 1987.
“They were looking at all […] blockchains, testing them out,” said Radomski. He said that Square Enix was looking for a platform that could accommodate gamers’ needs, such as low transaction costs and energy efficiency.
Final Fantasy NFTs Part of Square Enix’s Plans
The Final Fantasy NFTs are a small part of Square Enix’s long-term Web3 plans. A couple of years ago, the company started ramping up its blockchain and NFT endeavors primarily by investing in The Sandbox, an Ethereum-based Metaverse game in 2020. Last year, they also released NFT collectibles in Japan based on its Million Arthur game series using the LINE blockchain platform.
Then, earlier this year, the company announced plans to migrate its Dungeon Seige franchise to the NFT-powered gaming world. Its president also expressed his positive take on the potential benefits of NFTs and tokenized economies, even showing interest in “play-to-contribute” experiences wherein players benefit financially from a game’s growing success.
Square Enix also sold off several major franchises, including Tomb Raider, and three game studios for $300 million, partly to finance its burgeoning Web3 endeavors. And just yesterday, the company was announced as an investor in Zebedee, a Bitcoin gaming startup.
Per Radomski, Square Enix is taking a “very measured” approach to the NFT initiative with Enjin, intending to streamline the process for gamers who may be new to NFTs and the NFT space. “That lets us adapt our products even more,” Radomski said. “It’s been amazing.”
As for Enjin, Radomski said the firm is looking to expand cross-chain functionality and bridge to other blockchains. That means Efinity could bridge to Ethereum, making it possible for the Final Fantasy NFTs to be transferable to Ethereum by the time the NFTs are ready to drop.
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