Tag: enjin

Square Enix to Launch Final Fantasy VII NFT Collection

Final Fantasy game creator Square Enix has announced plans to launch a non-fungible token (NFT) project related to the game franchise.

A collection of Final Fantasy VII NFT will be created and launched in collaboration with NFT marketplace Enjin. The collection will feature the 25th Anniversary cards and figures on Enjin’s Efinity blockchain.

The company has also announced that buyers will be able to purchase a commemorative action figure with a code that will help redeem an NFT version of the figure.

Interested buyers can start checking out the NFTs as pre-orders for the figures are already available, while trading card pre-orders will be available only later in 2022. Further announcements regarding the pre-order is yet to be revealed.

However, gaming fans have not reciprocated the inclusion of NFTs into the traditional gaming environment. GSC Game World, a Ukrainian game development company behind the S.T.A.L.K.E.R franchise, cancelled its plans to include NFTs in its S.T.A.L.K.E.R. 2 release when fans pushed back on the decision, The Block reported.

Square Enix is possibly plotting an upgrade to its gaming experience as the company’s president, Yosuke Matsuda, previously teased about the allocation of more to blockchain technology in 2022. 

In a letter on Jan 1, Matsuda said Square Enix was looking into issuing its own tokens. However, he tempered those comments by saying it was seeing examples of overheated trading in the NFT space, according to The Block.

“This, obviously, is not an ideal situation, but I expect to see an eventual right-sizing in digital goods deals as they become more commonplace among the general public, with the value of each available content corrected to their true estimated worth, and I look for them to become as familiar as dealings in physical good,” Matsuda said in the letter.

Particularly from that incident onwards, Square Enix showed more interest in blockchain technology. It sold $300 million in intellectual property and studios to invest in the technology along with artificial intelligence and cloud investments.

Enjin Launches NFT-Focused Blockchain, Migrates Native Token and Merges Efinity Token

Singapore-based Enjin, a pioneer in the blockchain ecosystem for Non-Fungible Tokens (NFTs) and digital assets, has launched the Enjin Blockchain. The innovative new blockchain, dedicated to NFTs, is built on the open-source Substrate framework, distinguishing it from others by integrating NFT-related transactions directly into its foundational code, rather than relying on smart contracts.

Incorporating NFT transactions at the protocol level enhances scalability and prepares projects for future-proofed digital assets. Notably, Enjin Blockchain features like Fuel Tanks and Discrete Accounts simplify end-user interaction by subsidizing transaction fees and eliminating the need for specific wallet software.

In the proposed restructuring, Enjin Coin (ENJ) will transition from the Ethereum network to become the native token of the Enjin Blockchain’s Mainnet on a 1:1 basis. Furthermore, Efinity Token (EFI) is suggested to merge with ENJ, further promoting decentralized governance and participation.

Efinity, the Polkadot parachain, has successfully forked to the Enjin Blockchain, now known as the Efinity Matrixchain. The Matrixchain preserves all data from Efinity, ensuring seamless user transition and data integrity. A flagship Matrixchain, the Enjin Matrixchain, is due to launch, utilizing ENJ as the native currency and primary platform for NFT creation.

Enjin plans to deploy additional Matrixchains tailored to meet the specific needs of enterprise and large communities, extending the opportunities for digital ownership and interaction.

Enjin’s existing community projects will utilize the Enjin Blockchain, inviting all members to participate. The Enjin App Layer, essential for low-cost NFT integration, will be readily available for developers to incorporate into their projects.

The Enjin Blockchain and the Enjin Matrixchain will be secured by Substrate’s robust Proof-of-Stake system, powered by ENJ, promising maximum security, reliability, and sustainability.

Since its inception in 2009, Enjin has remained at the forefront of blockchain innovation, continually seeking to revolutionize the landscape of digital items and NFTs. With its dedicated community and cutting-edge technology, Enjin is poised to shape the future of digital ownership and blockchain technology.

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