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Square Enix has partnered with Enjin to create Non-Fungible Tokens (NFTs) for digital collectibles for the 25th anniversary of Final Fantasy VII.
Enjin said it will manufacture branded tokenized collectibles using its Efinity Network, which is a decentralized cross-chain blockchain network designed to make NFTs more accessible.
The move comes as no surprise, as Square Enix has signaled it will be investing in innovative technologies like blockchain even as it sells off its Western game studios. Some gamers are going to hate this move, as they associate NFTs with scams, energy waste, and monetization schemes. But Square Enix has signaled that NFTs are key to the business models of the future.
The digital collectibles will be available to consumers who purchase items from the physical collection, which is expected to launch in 2023.
Consumers can pre-order the commemorative figure starting today from 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 are supported by Enjin’s comprehensive product suite, which the company claims provides environmentally friendly solutions for building decentralized gaming products.
Enjin said it has committed to carbon neutral NFTs by 2030 and is building the foundation for Efinity on the most carbon efficient network, Polkadot. As a signatory to the Crypto Climate Accord, Enjin strives to create a low-carbon and sustainable cryptocurrency industry.
“This partnership marks a coming-of-age phase for digital assets and entertainment; Square Enix, an esteemed developer with iconic intellectual property, is leading the way for the industry,” Witek Radomski, Enjin CTO, said in a statement. “By using Efinity, fans can experience interactive NFTs without even realizing they are on the blockchain. Enjin can establish the next phase of blockchain entertainment growth, fusing curiosity and creativity.
Square Enix uses the Efinity blockchain and Enjin Open Platform toolkit to seamlessly integrate, manage, and launch its digital collectibles offering. The 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 Efinity green blockchain network, using NFT.io and Enjin Wallet as a non-proprietary secondary market and wallet solution for users, and Enjin Beam for its unique and accessible NFT QR code distribution system.
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