Published on: 03/06/2022
Final Fantasy NFT project: Details, collections update
The studio production behind the Final Fantasy franchise, Square Enix, is going to the NFT and metaverse economy following the creation of the Seventeenth Metaverse gaming project.
“The Seventeenth in here is based on the theme of Final Fantasy. Final Fantasy XVII is here, all thanks to the creative mind of Hironobu Sakaguchi working tirelessly on this project and delving into the Metaverse arena,” the developers shared.
“After a year-long hiatus, our efforts allowed this project to enter into the blockchain gaming space.”
Square Enix plans to release and create the initial collection of 10,000 uniquely generated NFTs in its upcoming official launch on June 30, 2022.
“The 10,000 minted NFT Origins, will be deployed on our Marketplace. Incoming Metaverse players will choose among these 10,000 Origins and fuse with ETH paid to the protocol to create their In-Game Characters to participate in gameplay,” The Seventeenth wrote on its website.
The project also added more details on the utility of the Origins.
“The more exclusive an Origin is, would render more users to select to fuse with said Origin,” the Seventeenth continued.
“The higher the demand for a fusion with an Origin will result in a higher fusion price, The Origin holder will stand to earn the 50% of the fusion price which will be airdropped, the remaining 50% will be allocated to the Treasury.”
Square Enix on NFT
During a financial presentation back in November, Square Enix addressed the possibility of integrating NFTs as “a proof of concept for establishing what synergies we can derive by combining NFTs with our business assets,” also adding that “NFTs have high affinity with our assets,”
The company also seemed eager to move into a “full commercialization stage” later in the future, which potentially means creating and integrating more NFT-related products, both in and outside of games.
In January, Square Enix president Yosuke Matsuda shared a letter regarding the company’s view on NFTs and cryptocurrency.
“With advances in token economies, users will be provided with explicit incentives, thereby resulting not only in greater consistency in their motivation, but also creating a tangible upside to their creative efforts,” Matsuda said in his letter.
“I believe that this will lead to more people devoting themselves to such efforts and to greater possibilities of games growing in exciting ways.”
He added what the future of the gaming community could become with the integration of blockchain technology and token economy.
“A wide variety of motivations will inspire people to engage with games and connect with one another. It is blockchain-based tokens that will enable this,” Matsuda explained.
“By designing viable token economies into our games, we will enable self-sustaining game growth. It is precisely this sort of ecosystem that lies at the heart of what I refer to as “decentralized gaming,” and I hope that this becomes a major trend in gaming going forward.”
NFTs, blockchain gaming and cryptocurrency have been popular topics for the last few years. Other big game companies such as Ubisoft and Sega have planned to integrate NFTs in their games in the future.
“Essentially, an NFT is a one-of-a-kind version of a digital asset. So for example, a digital art piece (which you would usually be able to share endlessly) can be “tokenised” as a way of making it unique,” Sega said. “The token acts as a kind of certificate that cannot be copied, meaning that you could feasibly sell your NFT asset at a later date, complete with this authenticity.