Square Enix plans to enter the NFT market with a full commercial move according to recent reports from industry expert Daniel Ahmad. The company has made it clear that it strongly believes that NFT’s and token economies are taking hold, and they should also make a move towards it to get the benefits.
For a little background, Square Enix is a Japanese-based video game company, well known for publishing popular titles like Final Fantasy, Dragon Quest, and Kingdom Hearts and it's considered one of the most influential providers in the digital entertainment world.
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.— Daniel Ahmad (@ZhugeEX) November 5, 2021
Mobile game revenue saw a slight decline while HD games could not match last years performance.https://t.co/QpYkstP3cB pic.twitter.com/4HHT4lsoUz
Square Enix to launch NFT soon
The question arises, why Square Enix plans to launch NFT? So, the answer is, recently in October, the company in partnership with Double Jump had released the NFT digital trading cards in Japan. These digital trading cards were basically based on Shi-Sei-Million Arthur, a video game and a popular anime franchise. Although this was just a trial run, but the NFT was sold quite quickly in just two weeks. This was a real success and pushed Square Enix to make a move into NFT.
Moreover, net sales for the MMO games have risen by 32.5% YoY, says Square Enix in its financial report, which was recently out. This growth happened after the number of monthly paying subscribers grew for “Final Fantasy XIV.”
Future of Entering into Blockchain and NFT
It is obvious that the growing interests of people in the NFT are driving the gaming industry developers towards it. It is also being taken in the crypto market, which has additionally made it more interesting.
Some games are already available that have started giving NFT to their users, and giant gaming industry developers have already shown their interest in NFT. They have been taking NFT into their accounts so that they can incorporate it into the games. Taking an example of EA, recently, they were highlighted in the news for talking about collectible digital content, including the NFT, which has created a vibe of the NFT market in the gaming industry, which will soon become a trend.