We now have an thought of what a Sq. Enix NFT and blockchain world may appear like. In a brand new monetary report, Sq. Enix lays out its plans for each NFTs and the blockchain, detailing investments and methods to include this tech into its marketing strategy going ahead.
What do the Sq. Enix NFT and blockchain plans appear like?
Sq. Enix has already moved into the NFT and blockchain area, promoting NFTs based on franchises like Million Arthur and famously showing an interest in “play to earn” sport mechanics. Now, a brand new monetary report provides us an thought of what Sq. Enix will do sooner or later to extend its deal with NFTs and the blockchain. Within the report, Sq. Enix lays out its blockchain-based initiatives, together with establishing regulatory tips for blockchain video games, issuing “unique fungible tokens” (i.e. cryptocurrency), and launching a completely new model and IP primarily based on NFTs.
The corporate begins by stating that it is already began up a “Blockchain Leisure Enterprise Division”, which opened again in February of this yr. The primary season of Million Arthur NFTs resulted in March, and since Sq. Enix is happy by the “outcomes and suggestions” of that season, there shall be a second run of Million Arthur NFTs. There are additionally plans to “incorporate sport content material into our service”, in line with Sq. Enix, in addition to initiatives to develop how blockchain can be utilized within the studio’s video games.
In addition to this, Sq. Enix additionally revealed that it is trying to make investments in two main key areas of blockchain expertise. These areas are the Australian Internet 3.0 firm Animoca Manufacturers, a significant participant within the blockchain area, in addition to The Sandbox, a “decentralized metaverse” that has many NFT homeowners and lovers excited. Sq. Enix additionally says it is pondering of creating “a number of potential international investments” aside from these two. Naturally, the monetary presentation comprises heaps extra Sq. Enix financials moreover these, so it is effectively price looking at the full slideshow if you wish to study extra concerning the enterprise facet of this gaming large.
How are NFTs being obtained within the gaming area?
Whereas NFTs have numerous buyers and corporations excited, the broader gaming group paints a unique image. A number of main gaming firms, together with Name of Cthulhu writer Chaosium and legendary British studio Team17, have needed to backpedal on plans to introduce NFTs after huge public backlash. Some firms have issued scathing indictments of NFTs, too; Itch.io called NFTs “a scam”, whereas Future and Halo luminary Bungie has described gaming NFTs as “mostly scams or worse”, in addition to “environmentally devastating”. Ouch.
Regardless of this widespread skepticism, many builders are nonetheless going all-in on NFTs alongside Sq. Enix. Studios like Konami and Netmarble are making main investments in NFTs and the blockchain, and retailers like Gamestop are getting concerned by opening their own marketplaces and providing a fund for NFT creators. That may not be the most effective transfer, although, as latest studies have advised that the NFT market might be in critical decline. NFT-based sport Axie Infinity just lately noticed one among its utility currencies drop to just $0.004 in worth, and though the foreign money in query is not the one string to Axie‘s bow, it is not a fantastic signal, particularly for a sport that had been held up as successful story final yr after they had been going for a complete lot extra. Solely time will inform whether or not Sq. Enix is making the precise choice by investing in NFTs at what appears to be a reasonably unhealthy time for blockchain tech in gaming. We’ll carry you extra on this as we get it.