Here’s Why Gamers Are Splurging on Square Enix’s Quirky NFT Characters
The Japanese gaming giant Square Enix has sold all character non-fungible tokens (NFTs) in the first auction for its upcoming game Symbiogenesis.
Square Enix is the publisher of titles such as Final Fantasy, Kingdom Hearts, and Dragon Quest. The company’s new projects are bound to draw major attention.
As reported earlier, the company decided to hold the auction in three phases between November 27 and December 3.
Notably, there was no public mint. Users had to join the Allow List Entry Campaign to mint NFT Characters.
It’s reasonable to suggest that this has contributed to the exclusivity aspect of the game.
Meanwhile, Phases 1 and 2 allowed users to bid only on one character. This means that more sought-after characters will see their prices rise swiftly.
And those who were outbid were allowed to move on to raise bids on a different character.
Furthermore, additional perks and rewards for top players were available along the way. Though not everybody enjoyed these, describing them as ‘overcomplicating things.’
The mint price for all phases started at 0 ETH. Bidding could be made in 0.01 ETH increments.
Winners will use these NFTs to log into the game, which is scheduled for launch on December 21.
Square Enix launched only 500 NFTs for Chapter 1 of the game. Ten were allocated for the first phase, 90 for the second, and 400 for the third.
On November 4, the team announced that “all 500 characters from Chapter 1 were minted.”
Some characters sold for over 1 ETH (currently $2,203). For example, Calyx went for 1 ETH, Newt for 1.3 ETH, and Wart for 1.6 ETH.
Murasaki was purchased for 2 ETH and Mistletoe for 2.06 ETH.
An additional selling factor is the combination of characters, story, and worldbuilding.
In this game, humanity has managed
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