Square Enix Chooses Arbitrum for Ethereum-Based Final Fantasy NFTs, Boosting $ETH Ecosystem

• Square Enix, the video game giant behind the Final Fantasy and Kingdom Hearts franchises, is adopting another Ethereum scaling network for its Symbiogenesis blockchain game.
• The publisher announced early Thursday that its next NFT character mint for the story-driven game will take place on Ethereum layer-2 network Arbitrum, shifting gears after the first wave of characters was minted on the Ethereum mainnet.
• “For Chapter 2, we’ve adopted Arbitrum, reducing the gas fees to about 1/1000 of the previous cost (around 1.3 yen per bid),” the official Symbiogenesis account tweeted.

Square Enix adopts Arbitrum for Symbiogenesis NFT minting, slashing gas fees significantly.

Square Enix Embraces Arbitrum for Symbiogenesis

Square Enix has announced a significant change in its blockchain strategy for the Symbiogenesis game. The next wave of NFT character minting will occur on the Ethereum layer-2 network, Arbitrum. This move is expected to drastically reduce gas fees, making it more cost-effective for players to participate in the NFT ecosystem. The first wave of characters was minted on the Ethereum mainnet, but the switch to Arbitrum aims to enhance user experience by lowering transaction costs.

Impact on Gas Fees and User Experience

By adopting Arbitrum, Square Enix has managed to cut gas fees to about 1/1000 of the previous cost, approximately 1.3 yen per bid. This significant reduction is expected to attract more participants to the Symbiogenesis game, as lower transaction costs make it more accessible. The official Symbiogenesis account highlighted this change, emphasizing the economic benefits for users. This strategic move could set a precedent for other gaming companies looking to integrate blockchain technology while maintaining affordability for their user base.

Future of NFT Assets in Symbiogenesis

While the initial character NFTs were minted on Ethereum, other in-game NFT assets have been minted on Polygon, another Ethereum sidechain scaling network. It remains unclear whether Square Enix will continue using Polygon for future game assets or fully transition to Arbitrum. The decision to use Arbitrum for the next wave of NFT characters indicates a potential shift in strategy, but official confirmation is awaited.

Market Reaction and Community Feedback

The first 500 characters released on Ethereum back in December faced some social media mockery due to their curious names like “Egg,” “Starvation,” and “Wastebasket.” Despite this, the NFTs have maintained a starting price of under 0.12 ETH (about $445) on secondary marketplaces. The upcoming release of 1,500 new NFT characters on Arbitrum is highly anticipated, with the public auction set to begin on Friday, May 31. Square Enix has provided a comprehensive guide on bridging assets to Arbitrum One in preparation for the auction, ensuring a smooth transition for participants.

Conclusion

Square Enix’s decision to adopt Arbitrum for the next wave of Symbiogenesis NFT minting marks a significant step in the evolution of blockchain gaming. By drastically reducing gas fees, the company aims to make the NFT ecosystem more accessible and cost-effective for players. As the public auction for the new characters approaches, the gaming community eagerly awaits further developments. This move could potentially influence other gaming companies to explore similar strategies, paving the way for broader adoption of blockchain technology in the gaming industry.