Square Enix’s blockchain momentum grows as Symbiogenesis NFTs mint out

Story-driven web3 game Symbiogenesis from Japanese game publisher Square Enix has minted out its 1,500 NFT characters during a three-day auction. A total of 1,500 NFTs were released on Arbitrum One on 31st May in a public auction that ended 2nd June.

Just days before the auction, Square Enix announced the NFT characters would be released on Ethereum L2 Arbitrum in order to reduce the cost of gas, requiring users to bridge their ETH. Its earlier characters were minted on Ethereum, while other in-game NFTs were on Polygon.

Symbiogenesis revolves around 10,000 collectible NFT characters, which are unlocked with each new chapter. As users enter the world of Symbiogenesis, which is described as the last floating continent left of the planet, the story is gradually unveiled in conjunction with individual stories related to each NFT character. Following the mint, Symbiogenesis Season 2 will kick off.

In April 2024, Square Enix signed a deal with Animoca Brands Japan to boost the global marketing of Symbiogenesis. Through the partnership, Animoca Brands Japan will offer support with NFT sales, including using its forthcoming NFT Launchpad Sorah, in addition to helping with its market strategy and global expansion.

More generally, Square Enix recently announced staff layoffs across its US and European offices as part of wider restructuring plans. The publisher reported net sales of $2.3 billion for the fiscal year ending 31st March, 2024 – a rise of 4% Y/Y. However, profits fell by 70% to $95 million.

Previously, it had also warned of “extraordinary losses” due to cancelled projects, which cost the company $140 million.

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