Square Enix has finally announced its NFT project
Square Enix has teamed up with Enjin to create NFTs for digital collectibles for the 25th anniversary of Final Fantasy VII.
Enjin said it will make branded tokenized collectibles utilizing its Efinity Network, which is a decentralized cross-chain blockchain network developed to make NFTs more accessible.
This move is no surprise since Square Enix hinted a while ago that it would make investments in innovative technologies like blockchain even as it sold off Tomb Raider for focusing on blockchain gaming. Gamers are definitely going to hate this move because the majority of them refer to NFTs as scams, wasted energy, and monetization schemes. But Square Enix has hinted that NFTs are key to the business models of the future.
If you are wondering which of its franchises Square Enix is pulling these NFTs from, well, it is making its NFTs from Final Fantasy VII— that relatively unknown indie game about a group of freedom fighters taking down a corporation that’s destroying the planet.
What can gamers expect?
Gamers can pre-order the commemorative action figure as of today at the Square Enix Store. The deluxe physical product will contain 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 in later stages this year.
Enjin mentions that it is providing an alternative destination for eco-conscious blockchain developers, investors, and users. Collectibles are backed by Enjin’s full product suite, which the company said delivers environmentally-friendly solutions for building decentralized gaming products.
Enjin has also conveyed 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 of the Crypto Climate Accord, Enjin is looking for a decarbonized and sustainable cryptocurrency industry.
Also read, Minecraft will not support crypto or NFTs
Backlash on NFT Project of Square Enix
Square Enix is choosing to make its NFTs, a technology known to consume excessive amounts of energy contributing to wildly increased emissions and accelerating already out-of-control climate change on a planet that is either on fire, drowned, or melting. This is exactly the kind of thing the characters created in the game who were dedicated to stopping companies from doing exactly what an NFT facilitates.
Currently, there are no images public of what the action figure or the collectible cards will look like or how much they will cost. In an environment where gaming-related NFTs are continually met with snappy and furious backlash, on top of the sharp fall in the price of all cryptocurrencies, it is also not known if these FFVII NFTs will have any value other than sentimental. Read more about the initiative here.
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