Game developer Square Enix has reportedly entered into a new partnership with Enjin’s NFT platform to launch both a digital and physical collection of Final Fantasy VII.
NFT at Pre-Order
Enjin has via an announcement let them know that in principle anyone can qualify for the NFTs, but they must pre-order Final Fantasy VII for this. The products, in turn, will contain a code for the digital collectible counterpart that can be redeemed in 2023 on the NFT platform called ‘Efinity’.
Square Enix’s move could have a major impact on the entire NFT world. It is one of the largest game development company worldwide. It could therefore serve as an example for many other gaming companies, both large players and smaller ones.
Square Enix & Web3
Earlier it was announced that Square Enix was planning to make investments in, among other things, the Web3 gaming space. She further emphasized that they plan to launch more NFTs with its games as part of its 2022 business strategy.
The success of its first venture into NFTs has prompted the company to pursue more initiatives in the blockchain space. In 2020, the game development company led another investment round for The Sandbox (SAND). With Square Enix and other investors, The Sandbox was able to raise $2 million in cash and digital assets.
Although the number of blockchain and nft video games are not yet available in large numbers, more of these types of games are expected to arrive in a relatively short period of time. It is still a relatively new market and the development of video games takes time. It is currently unknown how large this market will be.