Square Enix (a prominent name in game development) collaborated with Enjin – a non-fungible token (NFT) venue – to release a physical as well as a digital collection featuring a considerably famous series of video games named Final Fantasy VII.
Square Enix and Enjin Join Hands to Issue Digital Collectibles of Final Fantasy VII
In a declaration, it was stated by Enjin that the platform will obtain the NFTs and the fans require to pre-order the 25th-anniversary products of Final Fantasy VII at the store of Square Enix. The products will take into account a code to their counterpart in digital collectibles. The consumers can redeem the respective digital collectibles at the Efinity network (a venue for NFTs) in the coming year.
As per Witek Radomski – the CTO of Enjin – a positive impact would be put by the respective collaboration on the entertainment as well as digital asset world. In the words of the CTO, this is since Square Enix is getting a significant position within the industry along with creating a role model for the rest of the large gaming platforms. In May, it was disclosed by the gaming organization that it has the strategy to release tokens as well as to do investments in the gaming space which is based on Web3 technology.
The company brought to the front that additional NFTs will also be launched by it to feature other games, as included in its business strategy for the current year. The effectiveness of the first journey into the non-fungible token sector has persuaded the venue to move toward other initiatives within the blockchain world. Formerly in 2020, an investment round was led by the game development giant for The Sandbox (SAND). Having the investors like Square Enix, The Sandbox remained successful in raising more than $2M in digital assets and cash.
Enjin Anticipates a Boost in Blockchain-based Gaming after Bear Market
Recently in July, the CTO of Enjin revealed that after the settlement of the bear market substantial growth will be witnessed in blockchain-based gaming and entertaining games will be created by the game developers with the utility of NFTs, along with earning-based gaming. In the meantime, the industry experts are criticizing the place of virtual reality (VR) in the field of the Metaverse.
Though several people are of the view that there is great compatibility between VR and the Metaverse, some propose that both of them should pursue separate development without considering any mutual endeavors.
