Japanese gaming giant Square Enix has successfully sold all non-fungible token (NFT) characters in the first auction for its upcoming game, Symbiogenesis. Square Enix, known for publishing popular titles like Final Fantasy, Kingdom Hearts, and Dragon Quest, is generating significant interest with its new projects.
The auction for NFT characters took place in three phases from November 27 to December 3. Notably, there was no public minting process, and users had to participate in the Allow List Entry Campaign to mint the NFT characters. This approach likely enhanced the exclusivity aspect of the game, making it more attractive to participants.
The move into NFTs by a major gaming company like Square Enix highlights the growing intersection between traditional gaming and blockchain technology, as well as the rising popularity of NFTs in the gaming industry.
In Phases 1 and 2 of the auction for Square Enix’s upcoming game Symbiogenesis, users were limited to bidding on a single character, contributing to a swift rise in prices for more sought-after characters. Participants who were outbid had the opportunity to redirect their bids towards a different character.
Throughout the auction, additional perks and rewards were offered to top players, although some users found these features to be overly complex. The mint price for all phases commenced at 0 ETH, and bidding could be conducted in 0.01 ETH increments.
Winners of the auction will utilize the acquired NFTs to log into the game, which is scheduled for launch on December 21. This innovative approach to integrating NFTs into the gaming experience adds a unique dimension to player engagement and ownership within the gaming ecosystem.
Sold Out
Square Enix introduced a limited number of 500 NFTs for Chapter 1 of the game. The allocation for each phase was as follows: 10 NFTs for the first phase, 90 for the second, and the remaining 400 for the third phase.
On November 4, the team made an announcement stating that “all 500 characters from Chapter 1 were minted,” indicating a successful completion of the NFT issuance.
Certain characters fetched notable prices, with some selling for over 1 ETH (equivalent to $2,203 at the current rate). For instance, Calyx was sold for 1 ETH, Newt for 1.3 ETH, and Wart for 1.6 ETH. More high-value transactions included the purchase of Murasaki for 2 ETH and Mistletoe for 2.06 ETH. The varying prices reflect the perceived value and popularity of individual characters among the participants in the auction.
The allure of the game extends beyond individual characters, as it incorporates a compelling combination of characters, storyline, and world-building elements. The narrative unfolds in a world where humanity has persevered amidst pollution by residing on the Floating Continent. However, a threat emerges with a Dragon attack, placing everything in jeopardy.
A distinctive feature of the game is the World Mission, representing the ultimate chapter in the storyline. This segment offers multiple endings that dynamically change based on the course of the mission. To participate in the World Mission, only three individuals who have successfully completed all the preceding missions and gathered special items will be granted the opportunity. This exclusive and challenging aspect adds an extra layer of depth and engagement for players who seek to explore and master every facet of the game.
What’s in a name?
The uniqueness and quirkiness of the NFTs, particularly their names, could be another factor contributing to their prices. For instance, the Protagonist named Chroma is explicitly stated as not for sale, adding an exclusivity aspect to the character.
Some examples of characters with distinctive names include Fungus, which was sold for just above 1 ETH, and Warehouse, which fetched 1.4 ETH. The unconventional names of other characters, such as Lumber, Timber, Chamomile, Arm, Navigation, Kind, Lovesickness, Handshake, Cactus, Protein, Tattoo, and more, may be contributing to the appeal and perceived value of these NFTs. The creative and individualistic nature of each character’s name adds an extra layer of uniqueness and personalization for the collectors, potentially influencing the market demand and prices.
This appears to be a collection of seemingly unrelated words, lacking an apparent connection to the characters’ appearances. It remains uncertain how, or if at all, these names correspond to the characters.
In contrast, franchises like Final Fantasy showcase characters with meaningful names such as Cloud Strife, Sepiroth, and Yuna. Final Fantasy introduces figures like Noctis Lucis Caelum, while Symbiogenesis features characters named Instruction. The former includes Vincent Valentine, while the latter presents a character named Beverage.
Individuals may perceive these naming choices differently, finding them either clever or nonsensical. Regardless, it’s plausible that gamers are drawn to these NFTs due to a blend of factors, including distinctive character designs, unconventional naming choices, and the scarcity of these digital assets.
