Square Enix is working with Enjin to make non-fungible tokens (NFTs) for digital collectibles to celebrate the 25th anniversary of Final Fantasy VII.
Enjin said that it will use its Efinity Network, which is a decentralized cross-chain blockchain network made to make NFTs easier to use, to make tokenized collectibles with brand names.
This move doesn’t come as a surprise because Square Enix said it would invest in new technologies like blockchain even as it sold off its game studios in the West. Some gamers will hate this change because they think NFTs are scams, wastes of time, and ways to make money. But Square Enix has made it clear that NFTs will be a big part of future business models.
People who buy items from the physical collection, which is set to come out in 2023, will be able to access the digital collectibles.
At the Square Enix Store, people can pre-order the commemorative action figure as of today. The deluxe physical product will come with a code that can be used to get a digital version of the figure through Enjin’s Efinity network, which is a next-generation blockchain for NFTs. Later this year, people will be able to order the trading cards ahead of time.
Enjin said it is giving blockchain developers, investors, and users who care about the environment another place to go. Enjin’s full product suite, which the company says offers eco-friendly ways to build decentralized gaming products, can be used with collectibles.
Enjin has said that it wants NFTs to be carbon-neutral by 2030, and it is building the foundation of Efinity on Polkadot, which has the lowest carbon footprint. As a member of the Crypto Climate Accord, Enjin is working to make the cryptocurrency industry less carbon intensive and more stable.
“This partnership is a turning point for digital assets and entertainment,” said Witek Radomski, CTO of Enjin, in a statement. “Square Enix, a respected developer with iconic intellectual property, is leading the way for the industry.” “Using Efinity, fans can interact with NFTs without even realizing they’re on the blockchain. Enjin can set the stage for the next growth phase in blockchain entertainment by combining curiosity and creativity.
Square Enix uses the Efinity blockchain and the Enjin Open Platform toolkit to easily integrate, manage, and launch its digital collectibles. Enjin said that the Efinity blockchain gives its users the benefits of speed, depth, and flexibility.
Enjin said that its NFT tech stack makes it possible to manage Square Enix collectibles on the eco-friendly Efinity blockchain network, using NFT.io and Enjin Wallet as a non-exclusive secondary marketplace and wallet solution for users and Enjin Beam as a unique and easy-to-use QR code NFT distribution system.