The First Final Fantasy NFT From Square Enix Is Not Bad at All

The First Final Fantasy NFT From Square Enix Is Not Bad at All

To celebrate Final Fantasy VII’s 25th anniversary and unveil a brand-new Cloud Strife figure, Square Enix made the announcement in late July. Actually, they released a number of figures that are available for preorder now and will ship in November 2023. We at SeriesMaza.com looked into the Cloud figure more after it attracted the wrath of both Twitter and the gaming media.

New Premium Figure from Square Enix Comes With NFTs

Let’s start by defusing the most recent online ‘bomb’. It is true that the new Cloud Strife figure, which seems modeled on his appearance in 1997 original, includes an NFT. A blockchain-based digital certificate of validity is included with the base model. In addition, a version with the figure itself as a digitized good will be available for $30 USD more. Square Enix fans are mostly responsible for the outrage over Square Enix continuing with what it has been doing for the past 10 years. Sell strange goods; you will wonder who would want them.

Like the limited edition Final Fantasy XIV guitar or the high-end line of clothing based on the Final Fantasy XV characters. Therefore, this is basically Square Enix’s standard business approach. The Internet loves to pick on NFTs, cryptocurrency, and the blockchain for good reasons, but this is a fresh one. However, the outcry about Square Enix retailing digital goods on the blockchain appears to be exaggerated. We will try to diffuse the tension a little while also discrediting some recent claims of bad faith after spending some time reading the ‘small print’.

There Are Two Editions of Cloud Strife

First and foremost, there are two editions of the “Cloud Strife – Final Fantasy VII Brings Arts Action Figure”. The regular edition will already be more expensive, but that is simply the nature of Square Enix’s products in general. The standard edition will include a digital certificate that is kept on the Polkadot ecosystem of the Efinity platform and is by far the greenest blockchain available using less energy than 0.001% of what other blockchains, like Bitcoin, require. So, at least, you cannot say there was not any thought given to that.

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The identical certificate and an NFT version of the figure are included with the Digital Plus Version of the figurine, which is more expensive. Did we mention that the basic edition is priced in line with Square Enix’s customary range and that the digital certificate does not need to be activated on the blockchain?

It is probably important to note that by the time of release, neither the certificate nor the figure’s NFT will be available for trading unless Square Enix chooses differently. Additionally, given the current backlash against them, they will undoubtedly give it some second thought. But that is all that can be said at this time regarding the situation at hand. Nobody is being pressured to purchase NFTs or use the blockchain. This collector’s item will only be produced in a small quantity and be accessible to enthusiasts in digital form.

The information surrounding this is currently being skewed by a large number of supporters and what we would kindly refer to as “outrage merchants”. But that is standard fare in the larger crypto debate. There are many people with many opinions, some of which are terribly misinformed in both directions.

Let’s Clarify a Few Things, Then

To discuss a few of the most contentious points we have read, allow us a little time. We want to somewhat diffuse the situation. And that is partly because we are still fanboys of Square Enix, but it is also because we are tired of coming across as nuts anytime this subject is brought up.

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A lot of people have therefore claimed that Square Enix sold Crystal Dynamics and Eidos Montreal to the Embracer organization so they could use the money for their NFT endeavors. As stated in the financial report published in May 2022, this is just untrue. The firms that created Deus Ex and Tomb Raider were sold in order to raise capital for the business. If the selling of IO Interactive was some indication, Square Enix would always have issues with their foreign studios. A portion of that capital will be invested in other industries.

Then there was Final Fantasy VII, the video game about the effects of environmental devastation having been converted into an NFT, with its entire poetic irony thing. As was already noted, Enjin’s NFT technology is now the most environmentally friendly available. Additionally, at least based on their website, they have been working hard to further reduce their carbon footprint. It is quite dishonest to portray them and Square Enix as the actual ShinRa Cooperation when that is not the truth. That is the plan; how it will work out is still unknown.

Which gets us to NFTs. When you hear the term, what percentage of you first picture unsightly monkey photos being blasted for profit? It is true that scam after scam has ruled the news cycle in the majority of the cryptocurrency market. The problem with unregulated markets is that there is no user protection and no legislation (not in all spheres of using cryptos though; best Monero betting sites for instance successfully protect their users during depositing and withdrawing of their funds) because the tech is so new. In a world that is becoming more and more digital, this does not imply that NFTs are a poor idea in and of themselves.

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Digital ownership is a concept that is increasingly significant. How frequently do you see a Twitter account or a popular channel promote someone else’s creation without giving them due credit? Or for financial benefit, which probably is not on many people’s minds but is especially important for artists who work in the digital arena. The idea of NFT primarily exists to safeguard the value of a digital asset and serve as proof of ownership.

Is it really necessary to purchase a virtual figurine that you can view on your phone and possibly put in your simulated metaverse apartment? You decide; right now, it is basically just a collector’s item, but we imagine it is comparable to the after-market for real-life figures. Without the chance of deterioration or destruction, the digital ones will entice collectors and aficionados in a similar way. Who knows, perhaps all they should do is sneer and laugh when they see it. And we will revisit this market in five or 10 years to determine whether or not all of this was cause for concern.

Conclusion

However, calling for the resignation of Square Enix’s president because they released a product you do not like is essentially the same as the pot calling the kettle black. In the end, we basically wasted a lot of time being furious about some specialized novelty goods, which even Square Enix appears to be really averse to producing. Why would they do it with a very small batch of what is likely their most successful and safest brand?

Anyhow, we think that is all we have to say for today. We kindly want you to enlighten your other players on the matter and urge you to read some of the linked content to acquire a better understanding of the problem. Because of all the false information spreading, things will only become worse.

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