Top NFT news: Square Enix collaborates with Enjin to launch Final Fantasy VII collectibles

Square Enix has collaborated with nonfungible token (NFT) platform Enjin (ENJ) to launch a digital and physical collection including Final Fantasy VII, a prominent video game franchise.

In an announcement, Enjin said that in order to obtain the NFTs, fans must pre-order Final Fantasy VII's 25th-anniversary merchandise from Square Enix's store. The items will carry a code for the digital collectible counterpart, which will be redeemable in 2023 at the NFT platform known as the Efinity network.

According to Enjin CTO Witek Radomski, the collaboration will benefit digital assets and entertainment. The CTO stated that this is due to Square Enix's entry into the sector, which is serving as a model for other major gaming companies.

In May, the gaming behemoth announced ambitions to sell tokens and invest in the Web3 gaming market. As part of its 2022 business plan, the company stated that it will launch additional NFTs with its games. The firm's early success with NFTs has prompted them to seek more blockchain-related activities.

Back in 2020, the game development company launched an investment round for The Sandbox (SAND). With the assistance of Square Enix and other investors, Sandbox was able to raise $2 million in cash and digital assets.

According to the Enjin CTO, “after the bear market subsides, blockchain gaming will emerge, with more established developers creating interesting games with NFT usefulness rather than merely playing to earn.”

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