traditional video game publishers are starting to embrace NFTs and crypto gambling, with third-party giants like Electronic Arts and Ubisoft expressing pastime or declaring their intentions in holocene days. now japanese publisher Square Enix of “ Final Fantasy ” fame has joined the pack .
today, during a fiscal brief covering the six-month period ending on September 30, Square Enix—which besides publishes “ Tomb Raider ” and “ Dragon Quest ” —described plans to further explore the NFT space by offering collectibles and blockchain-driven video games .
The celebrated gambling publisher recently dipped its toe into the NFT commercialize with a test run, in partnership with developer Double Jump.Tokyo/MCH+. Square Enix released NFT digital trade cards in Japan based on the television game and zanzibar copal franchise Shi-San-Sei Million Arthur, which were minted on immutable ten, a layer-2 scaling solution atop Ethereum .
According to Square Enix ’ s report, the NFT cards were released on October 14 and sold out. The publisher plans to add secondary market deal support via LVC, a market created by Yahoo Japan and a subordinate of popular messaging app Line, and then explore other initiatives around NFTs.
“ [ We ] have recognized that NFTs have high affinity with our assets, ” the composition states. “ [ The ] proof of concept phase is over. Will passage to wax commercialization phase. ”
An NFT acts like a act of ownership to a rare digital item, whether it ’ s a trade batting order, illustration, video recording file, or functional video game detail. The market blew up near the start of the year and has only accelerated of late, with $ 10.67 billion of deal volume in Q3 alone, per data from DappRadar .
Square Enix writes that it is now “ contemplating robust entry into blockchain games, ” citing a “ change environment ” for digital entertainment, including “ increasingly divers profile of/incentives for people involved in gaming. ”
“ Games are far expanding from centralized into decentralized formats, ” the composition reads. “ In summation to the sort of content initiation we have traditionally engaged in, we will focus on blockchain games premised on keepsake economies as a phase of decentralize contented. ”
Following the summer explosion of Ethereum-based game Axie Infinity, which has generated more than $ 2.8 billion worth of transaction bulk to date, traditional game publishers have used their latest fiscal reports to indicate pastime in or plans for the crypto quad.
Ubisoft, which has already dabbled in the NFT space and supported crypto developers, recently said that it would make its own NFT-based games following an investment in Animoca Brands. On Wednesday, Electronic Arts CEO Andrew Wilson said during the publisher ’ s latest earnings call that he sees NFTs and crypto as “ an authoritative part of the future of our industry, ” although he cautioned that it was “ hush early. ”
The crypto bet on industry has besides seen a count of meaning support announcements of late, including fabulous Games raising $ 150 million this week from investors such as Andreessen Horowitz, the NFL ’ s 32 Equities store, and retired NBA ace Michael Jordan .
Animoca ’ s The Sandbox metaverse game raised $ 93 million earlier this week, plus crypto exchange FTX, Solana Ventures, and Lightspeed Venture Partners announced a $ 100 million co-investment fund for Solana-based games .
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