Game development giant Square Enix partnered with nonfungible token (NFT) platform Enjin (ENJ) to launch a digital and physical collection featuring Final Fantasy VII, a highly popular video game series.
In an announcement, Enjin said that to get the NFTs, fans must pre-order Final Fantasy VII's 25th-anniversary products at Square Enix's store. The products will include a code to the digital collectible counterpart, which can be redeemed on the NFT platform Efinity network in 2023.
According to Enjin chief technology Witek Radomski, the partnership will have a good effect on digital assets and entertainment. The CTO noted that this is because Square Enix is making its way into the industry, setting an example for other big gaming firms.
In May, the gaming giant revealed its plans to issue tokens and make investments in the Web3 gaming space. The firm highlighted that it will launch more NFTs featuring its games as part of its 2022 business strategy. The success of its initial venture into NFTs has pushed the firm to pursue more initiatives in the blockchain space.
Back in 2020, the game development firm led an investment round for The Sandbox (SAND). With Square Enix and other investors, The Sandbox was able to raise $2 million in cash and digital assets.
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Earlier in July, Cointelegraph Markets Pro spoke with Radomski through an Ask-Me-Anything session. According to the Enjin chief technology officer, once the bear market settles down, blockchain gaming will emerge, and more established developers will create fun games with NFT utility that are not just play-to-earn.
Meanwhile, experts are clashing on virtual reality's (VR) place in the Metaverse. While many believe that the Metaverse and VR are a natural fit with each othe, some believe that the two should develop separately without any mutual considerations.