What you need to know
- While gaming publishers are shying away from NFTs, Square Enix is continuing to embrace the idea of using blockchain technology for limited digital items.
- Square Enix has introduced its first NFTs with Final Fantasy 7 collectibles that are limited in number.
- The digital certificate of authenticity is not being directly handled by Square Enix.
While Japanese publisher Square Enix has been discussing the use of NFTs (Non-Fungible Tokens) and blockchain technology, it's finally introduced the controversial system with some new Final Fantasy 7 collectibles.
Square Enix shared (opens in new tab) that a new action figure of Final Fantasy 7 protagonist Cloud Strife is on the way from Bring Arts. Using NFTs, Square Enix is introducing a limited version of the collectible for $160 that bundles in a digital version of the figure. Alongside this, Square Enix is offering a digital card pack for $130, featuring designs of Final Fantasy 7 characters. Both of these collectibles will be released in November 2023.
Notably, these collectibles are using the Enjin digital wallet, which is maintained by a third-party outside of Square Enix. The publisher notes that it is not responsible for any issues arising from the use of this wallet, and that if the Enjin services end, anyone who purchased the NFTs collectibles will no longer be able to view their digital items.
NFTs are widely disparaged across parts of the gaming industry, with Minecraft developer Mojang Studios recently announcing that no NFTs or blockchain technology will be allowed within Minecraft, explaining that the concept of digital scarcity is in direct opposition to the Minecraft ecosystem and its focus on being available for everyone.
Looking ahead, Square Enix is looking to launch multiple major games over the next couple of years, with Final Fantasy 16 slated to arrive in Summer 2023, while Final Fantasy 7 Rebirth is currently coming next holiday. Both titles are timed PS5 console exclusives.
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