Square Enix is one of the biggest publishers in the gaming industry that released some of the most iconic titles including Hitman, Deus Ex, Tomb Raider, and most notably, the Final Fantasy series. At the beginning of 2022, CEO Yosuke Matsuda expressed his support for NFTs in an open letter. This met with mixed reactions from the gaming community, although it seems that the Square Enix NFT project will push through.
They will present NFTs from the hit game Final Fantasy VII which will come in both digital and physical collections.
Enjin, a blockchain project that mints video game assets into NFTs, has partnered with Square Enix.
A Celebration for FFVII’s 25th Anniversary
Final Fantasy VII debuted in 1997, making it a household name for Square Enix and one of the best-selling games on the first Sony PlayStation. The hit Japanese RPG also received a total remake and was released in 2020 for the PlayStation 4 (and PC the following year).
To commemorate the most successful Final Fantasy game in the series, they plan to release FFVII NFTs for buyers to use in the Metaverse.
These will include a wide assortment including protagonist Cloud, main villain Sephiroth, and internet’s video game girlfriend Tifa. Additionally, Square Enix invested in The Sandbox in 2020. This resulted in The Sandbox generating $2 million thanks to the game publisher and other high-profile investors.
Still a Polarizing Subject for Gamers
2021 marked the spark for NFT gaming as a mainstream medium, although long-time gamers would not have it. Ironically, even when P2E games like My Neighbor Alice and Axie Infinity helped make money for players, the avid gamers do not see these titles as proper games but rather money miners disguised as games.
When Ubisoft announced its NFT project in a trailer, it was overwhelmingly met with negative feedback. It was so bad, that Ubisoft had to unlist the project. It also happened when Ukrainian game developer GSC Game World stated that the upcoming S.T.A.L.K.E.R. 2 game will include P2E elements. However, long-time fans saw this as a scam and so the developers immediately lifted out the NFT implementation in the anticipated survival game.
Even Square Enix was not safe – especially after CEO Yosuke Matsuda showed his full support for NFTs.
Unfortunately, all the recent successes from the MMORPG Final Fantasy XIV were buried under the players’ anger toward Matsuda’s statement.
Meanwhile, Fortnite developer and publisher Epic Games proudly showed consideration for NFTs in games. Yet, CEO Tim Sweeney said they will not force this technology in their games but Fortnite is part of the Metaverse.
Mojang, the developer behind the massive hit title Minecraft, initially gave a green light for including NFTs in their survival game. Recently, the developers had a second thought and wanted NFTs banned from Minecraft. Supposed NFT developers who were making the assets for the game were suddenly left in the open. This put them in a position to make Mojang reconsider their decision or move on to another project.
Enjin Taking a Huge Risk with a Possibly High Reward
Enjin takes pride in being a blockchain project that focuses on giving incentives for developers for minting their game assets. Players can use the minted NFTs to profit, allowing for a healthier gaming economy that may prevent large scams like Counter Strike’s gambling sites or World of Warcraft’s servers filled with traders for real-life cash.
The project will need a magnum opus of a game to persuade the entire gaming industry and its community that NFTs in video games are here to stay – not as a trend but as a lucrative form of income.
The company and its partners will need to develop a good strategy for gamers to focus on the fun factor first and the profits only second.