Square Enix looking into incorporating NFTs and blockchain into its franchises

Square Enix has announced its intent to dive deeper into non-fungible tokens and blockchain incorporation within its games and franchises.

As reported by Kotaku, the company best known for Final Fantasy and Tomb Raider is interested in investing in these new technologies. The company saw success earlier this year with sales of NFTs for Million Arthur, a game and anime franchise in Japan, and is interested in expanding further into the field.

In a Japanese-language report translated by Kotaku, Square Enix said that “NFTs have high affinity with our assets” and that it’s planning to expand its use of the technologies beyond the “proof of concept phase.” It’s likely that players will see more Square Enix NFTs and blockchain-based opportunities in the near future.

Developments in cryptocurrency, NFTs, and the blockchain have been all the rage recently, even managing to infiltrate gaming. As interest in these features grows, game developers and publishers are looking for ways to incorporate them into their games: Sega is looking into selling art NFTs of its properties, while Ubisoft is interested in the potential of blockchain in gaming.

While NFTs have surged in popularity in recent months, art and gaming communities remain hotly divided on the ethics of their creation and sale, particularly as it relates to climate change and carbon emissions. They’re undeniably profitable, though, with individuals splashing out millions for high-profile and celebrity NFTs. The high potential for profit likely explains why so many companies are interested in selling their own NFTs and investing in blockchain technology for their games.