Square Enix is the latest developer to express an interest in the NFT business.
NFTs are without a doubt one of the biggest hot-button terms on the internet. As more and more established companies and celebrities get into the world of NFTs, and the Blockchain, conversations surrounding their legitimacy become more intense. They’ve started to spread throughout the gaming industry, and now another major gaming studio is looking to get in on the trend. Square Enix has confirmed that it is looking to release NFT content in the future.
Square Enix recently released an earnings report in which it chronicled its financial performance over the past 6 months. In addition to listing its earnings, the company also spoke about its future business endeavors. Industry analyst Daniel Ahmad spotted the confirmation that Square Enix is looking to dive into the NFT business.
Square Enix says that its net sales for MMO games increased 32.5% YoY, due to sharp growth in the number of monthly paying subscribers for Final Fantasy XIV.
Mobile game revenue saw a slight decline while HD games could not match last years performance.https://t.co/QpYkstP3cB pic.twitter.com/4HHT4lsoUz
— Daniel Ahmad (@ZhugeEX) November 5, 2021
Square Enix says it’s going to distribute Shi‐San‐Sei Million Arthur NFTs. The company describes the move as “a proof of concept for establishing what synergies we can derive by combining NFTs with our business assets.” If they’re a success, it’s a likely bet that Square Enix will look to bring NFT items to more of its popular gaming franchises. The studio also plans to make its NFTs available on the LVC NFT market.
Once it’s proven that Square Enix can have success with NFTs the company will move into its “full commercialization” phase. Square Enix is just the latest video game company to express an interest distributing Non-Fungible Tokens. Just days ago, EA stated that its future business will include collectible digital content like NFTs. We previously saw Hellraiser NFT content make its way to Dead by Daylight. For more on the quickly-growing world of NFTs and how it’s being implemented in gaming, stick with us here on Shacknews.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom’s desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Star Wars nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_