Earlier this year Kotaku reported that Square Enix got into NFTs. At the time, the Tokyo-based game maker dipped its toes in the non-fungible waters. Now it looks like Square Enix is ready to take the plunge.
As noticed earlier, Square Enix has partnered with Double Jump Tokyo, a blockchain technology company founded in 2018, to create unique digital assets for its Million Arthur Franchise. Square Enix has explored blockchain technology for the past several years, including the Opportunities for creating new digital entertainment and creating a new business model. This is starting to feel inevitable. All off MC Donalds
Now how New economy Square Enix is reportedly keen to grow its NFT and blockchain business. While his last financial presentation, Square Enix discussed its Million Arthur These NFT cards are “a proof of concept to determine what synergies we can achieve by combining NFTs with our business assets”. According to Square Enix, the initial is Million Arthur The NFT set, which hit the market on October 14th, has already sold out – undoubtedly a good sign for Square Enix for its first venture, regardless of its larger impact. For this reason, the game manufacturer also stated that it has recognized that “NFTs have a high affinity for our assets” and that the “proof-of-concept phase” has ended. According to the company, this means that it will “pass over” [a] full commercialization phase. “
NFTs are unique records on the blockchain, while blockchain games allow players to win NFTs or even cryptocurrency – all of them Leave greenhouse gases behind in their wake. This is how the Zipmex crypto exchange works explained Blockchain Games:
Blockchain gaming gives players complete control over the digital assets they earn or gain by participating in the games. In traditional games, even if players pay real money for their digital assets, they will lose access to them if the server is ever turned down. Both the money and the gaming assets would remain the property of the publisher or developer.
In the meantime, players in blockchain games retain full ownership of their digital assets so they can freely trade them with other players, sell them for real money, and potentially use them in numerous game universes.
In the medium term, Square Enix is considering a “robust entry” into blockchain games as NFTs continue to spread and gain acceptance. The appeal of blockchain games is based on the idea that in a digital economy people not only want to play games, but also want to create and collect things. “Games continue to expand from centralized to decentralized formats,” wrote Square Enix on a presentation slide. “In addition to the type of content creation we’ve traditionally done, we’ll be focusing on blockchain games based on token economies as a form of decentralized content.” The trend towards non-fungible tokens is hot – and there are understandable concerns about the problem of carbon pollution that could also help heat the planet up even more.
Square Enix also pointed out in its presentation that the environment for digital games is changing. It is, but it is certainly not the only environment that is changing.