Despite the doubts of naysayers, NFTs have continued to thrive in the gaming sector and show no signs of stopping. Case in point, Japanese gaming giant Square Enix has announced a new deal and a $52.7 million investment in Gumi, a game development company.
Through the partnership the two companies will work together to create blockchain, Metaverse, and NFT-centered games.
The Rise of NFT Games
It’s worth noting that Gumi has previously worked with Square Enix on its Final Fantasy Brave Exvius series and will be tapping into more of its IP to develop these new offerings. Besides the new games themselves which might incorporate NFTs, the two are also looking towards a marketplace dedicated to in-game NFTs.
“We are already considering the establishment of a platform dedicated to blockchain games and an NFT marketplace, etc. Through collaboration between the two companies, we will provide a one-stop service from the development and distribution of blockchain games to the sale and distribution of tokens and NFTs,” a press release says.
Finally, Square Enix and Gumi are working on a gaming concept called ‘wow and earn’ which leverages existing popular IP and infuses them with the play-to-earn (P2E) model.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.