The NFT (non-fungible token) train continues to gain traction in the mainstream, with more big names in entertainment and games jumping on board, including Japanese gaming powerhouse Square Enix.
Square Enix is planning a “strong entry into blockchain games” after an extremely successful toe-dip into the NFT sector.
In March, through cooperation with blockchain firm Double Jump.tokyo, the home of the highly successful game franchises Final Fantasy and Tomb Raider, among others, made a test entry into NFT sales.
This culminated in a series of collectible cards based on the Square Enix gaming and anime property Million Arthur, which sold out quickly when they were released on October 14.
This achievement appears to be all the proof the gaming company needs to pursue NFTs further, as it has revealed it is currently working on a “full commercialization stage” for tokenizing its licensed content. This involves a foray into the world of pay-to-win gaming.
According to a recent Square Enix briefing session report, “games are further extending from centralized to distributed models.” “We will focus on blockchain games based on token economies as a form of decentralized content, in addition to the type of content creation we have traditionally engaged in.”
It remains to be seen whether its blockchain-based content and tokenomics will be extended to its existing large titles and franchises, such as the upcoming Final Fantasy 16, below.
Meanwhile, Square Enix has joined a growing list of renowned gaming firms in stating that NFTs and play-to-earn models will play an essential role in future strategy.
Ubisoft (which has invested in crypto-gaming powerhouse Animoca Brands), Electronic Arts (which calls it “the future of our business”), and Take-Two Interactive, which owns Rockstar Games (of Grand Theft Auto and Red Dead infamy), are among the most prominent companies recently pumping up the sub-sector.
