Square Enix's foray into blockchain gaming continues to gain traction as its latest web3 game, Symbiogenesis, successfully minted out 1,500 NFT characters during a three-day auction. The auction, which took place from May 31 to June 2, was hosted on the Ethereum Layer 2 network Arbitrum One, offering reduced gas fees and requiring users to bridge their ETH.

Square Enix Symbiogenesis NFTs Sell Out

World Renowned Publisher

The Japanese game publisher, renowned for its popular franchises like Final Fantasy and Kingdom Hearts, strategically released these NFTs on Arbitrum to provide a more cost-effective solution for its user base. Earlier NFT characters from the Symbiogenesis universe were minted on Ethereum, while other in-game assets were issued on the Polygon network.

What is Symbiogenesis

Symbiogenesis is a story-driven adventure game that revolves around 10,000 collectible NFT characters. Each character is unlocked progressively with new chapters, allowing users to delve into a narrative set on the last floating continent of a dying planet.

The unique approach intertwines the overarching storyline with individual narratives tied to each NFT character. Following the successful minting event, the game is set to launch its second season.

Symbiogenesis Art

Partnership with Animoca Brands Japan

In an effort to expand its reach and marketing capabilities, Square Enix entered into a partnership with Animoca Brands Japan in April 2024. This collaboration aims to boost the global promotion of Symbiogenesis. Animoca Brands Japan will assist with NFT sales, leveraging its upcoming NFT Launchpad, Sorah, to enhance market strategies and facilitate global expansion.

Traditional Gaming Sees Layoffs 

Square Enix’s blockchain gaming ventures come amid broader restructuring within the company. Recently, the publisher announced staff layoffs across its US and European offices.

Despite reporting a 4% year-over-year increase in net sales to $2.3 billion for the fiscal year ending March 31, 2024, the company's profits plummeted by 70%, totaling $95 million. This decline was partly attributed to "extraordinary losses" from canceled projects, which cost the company $140 million.

Symbiogenesis Roadmap Dates and Calendar 

Final Thoughts

The success of Symbiogenesis's NFT auction underscores Square Enix's growing momentum in the blockchain gaming space, highlighting its commitment to innovative gaming experiences despite recent financial setbacks.

As the company navigates through its restructuring phase, its investment in web3 and blockchain technologies suggests a strategic pivot towards emerging digital markets. For more updates on Square Enix and Symbiogenesis, stay tuned to the latest in gaming news on our website.