What Pushed a Company Like Square Enix To Embrace NFT Games?

Square Enix, the publisher of games like Final Fantasy, announced a sell off of Tomb Raider, Thief, Legacy of Kain and Deus Ex.
Square Enix initiated its steps towards the crypto gaming sector back in 2020, when it secured a funding of $2 Million for The Sandbox.
NFT games are play-to-earn games which allow users to generate yield through in-game assets, which are basically NFTs.

When Square Enix Sold Tomb Raider With Other 3 To Fund NFT Games

Square Enix has always embraced blockchain and NFT based games in the gaming sector, but the watershed moment came with respect to this when it sold its prime properties and studios, just to fund NFT games.

It sold off the fan favorite Lara Croft’s Tomb Raider, Legacy of Kain, Deus Ex, and Thief, alongside the gaming studios Square Enix Montreal, Eidos Montreal and Crystal Dynamics. Altogether, these studios employed 1,100 folks in total. Embracer group was the organization sealing the deal.

The deal shifted the rights of over 50 games published by Square Enix to Embracer Group.

Square Enix is not the only gaming body embracing NFT games. Ubisoft has invested an astounding sum in the space and has released in-game NFTs in collaboration with Tezos blockchain.

Will Blockchain And NFT Games Overshadow The Gaming Industry?

Undoubtedly, the gaming industry is among the most crowded spaces where folks like to spend their time and money. Currently, gamers can earn via streaming games like Call of Duty Warzone, PUBG, and more on platforms like YouTube, Twitch. But their yield is generated via streaming not the games.

NFT games can change this factor. Now, here it can disrupt a couple of sectors: Free to Play gaming and streaming. How? I’ll Tell You.

Consider this, NFT games offer a chance to experience fun and a window to earn through this fun experience. What would you prefer, having fun without getting anything in return, or having fun and generating income alongside it? I don’t think I have to guess what you just chose.

Now there are a couple of scenarios here. First is that, gamers will turn to NFT games, leaving the free to play games behind, or the gaming organizations might blend the concept of NFTs in prominent games like Call of Duty Warzone, Fortnite and many more. Which eventually sounds like “NFT GAMES TOOK OVER THE INDUSTRY.” But it’s a matter of time which will reveal where this story will go.

Now talking about how the streaming sector can get disrupted from NFT games. If the gamers are already earning and generating their income via play to ear NFT games, why would they choose streaming to ear. Well there is a reduced possibility of this to happen, but it can happen (Doesn’t apply to the gamers hungry to earn).

All of this comes to this one last conclusion, which is, if NFT games somehow manage to take over the gaming industry, will it be able to disrupt any other sector?

It is believed that if this concept goes mainstream, several folks all over the world will leave their jobs, just to play and earn through these games. I guess you already know where my words are leading.

The sector is booming undoubtedly, but we have to be patient and see if NFT games can cast their spell or will it remain a fantasy?

Anurag Batham is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.