Square Enix is officially entering the NFT space with the launch of its "Final Fantasy VII" NFT collection. After previously toying with the idea of using blockchain tech for their next game, the company announced its upcoming non-fungible project.
Square Enix Plans to Launch NFT Project with Enjin
According to the story by The Verge, in order to facilitate this move, Square Enix has decided to partner with the NFT company, Enjin, which will be responsible for storing Square Enix's tokens on its very own Efinity blockchain.
As of recent, consumers will be able to place pre-orders on a physical action figure that will also come with a code that will allow buyers to redeem a digital NFT. There will also be some physical trading cards that will come with their own digital NFT component, which will be made available for pre-order later this year.
'Final Fantasy VII' is a Game About Freedom Fighters Fighting Against a Corporation that Kills the Planet
For those wondering which franchise will be made into NFTs, the article notes that it will be "Final Fantasy VII." "FFVII" is a game about freedom fighters fighting against a corporation responsible for killing the planet.
The article by The Verge emphasizes that Square Enix decided to make NFTs, a type of technology known to consume large amounts of energy, of characters that were designed to stop companies from doing what the article claims that NFTs facilitate.
Enjin Says they Plan to be Carbon Neutral by 2030
As of press time, there are still no images being released regarding what the action figure or collectible cards could look like or even how much they might end up costing. The publication notes that the launch will be done in an environment where gaming-related NFTs are usually met with swift and furious backlash, the "FFVII" NFTs will not have any other value aside from sentimental.
The publication says that when dealing with the backlash, Square Enix has decided to choose the Efinity Parachain, which is a layer 1 proof-of-stake solution that has promoted itself as "eco-friendly" and is being run by a company that has already made the commitment to becoming carbon neutral by 2030.
Read Also: Minecraft is Keeping NFTs Out of the Gaming World, to Focus on Providing the Game for All
What Happens to NFT Owners if Enjin Services are No Longer Available to Square Enix
The Efinity Parachain even made promises of becoming even more efficient when it comes to power compared to older Bitcoin or Ethereum technology. The technology aims to do this with bridges that also connect different types of blockchains without needing to rely on them and their very own energy-hungry operational methods.
According to an article by Kotaku, Square Enix's move to launch NFTs comes at a time when they are waiting to see what the company's NFT plans are "when it comes to video games." Square Enix, however, announced that in the event that Enjin services will no longer be provided to them, users won't be able to view or use their NFTs.
This article is owned by Tech Times
Written by Urian B.
