TLDR
- The renowned creator of beloved franchises such as Final Fantasy and Kingdom Hearts, Square Enix, is moving the process of minting NFT characters for its Symbiogenesis blockchain endeavor to Arbitrum, an Ethereum layer-2 network.
- The move towards Arbitrum is anticipated to dramatically cut the gas fees involved in minting NFTs by roughly a thousandfold compared to Ethereum's main network, providing a cost-efficient and user-friendly experience.
- Back in December, Square Enix launched its first batch of 500 character NFTs directly on the Ethereum mainnet, facing some ridicule on social platforms over unusual names like 'Egg' and 'Starvation.'
- Starting May 31, 1,500 new NFT characters will be introduced over three days through public bidding on Arbitrum, delivered in limited quantities.
The gaming behemoth behind hits such as Final Fantasy and Kingdom Hearts, Square Enix, reveals a major shift in how it will handle NFT minting for its blockchain project. Symbiogenesis.
The latest batch of NFT character minting is heading to the Arbitrum platform, an Ethereum layer-2 solution, in a move to cut gas fees and elevate user satisfaction.
[Huge Announcement: SYMBIOGENESIS NFT Auction Coming to Arbitrum!]
The long-awaited public auction kicks off tomorrow, May 31, at precisely 11:48 AM (JST)!For part two of our series, we've embraced Arbitrum, dramatically reducing minting fees to nearly 1/1000 of their earlier amount (around 1.3 yen per transaction).
Check out all 1,500 NFT characters!… pic.twitter.com/RsHfmeVafT
— SYMBIOGENESIS -NFT Art＆Game Project- SQUARE ENIX (@symbiogenesisPR) May 30, 2024
Following December’s initial NFT minting phase on the Ethereum mainnet with high gas costs, Square Enix’s transition to Arbitrum is set to slash fees to about 1/1000 of their prior level, translating to nearly 1.3 yen or roughly $0.01 per transaction.
Symbiogenesis presents a narrative-driven adventure game, enriching the experience with NFTs for both characters and various game elements.
Due to its distinct blend of storytelling and NFT integration, the game has captured the interest of both gamers and blockchain aficionados, despite the challenge of high transaction prices for NFT minting on Ethereum's primary network.
Square Enix plans to directly tackle this issue by utilizing Arbitrum's efficiency, striving to make NFT creation affordable and approachable for more users.
Saving on costs is expected to draw more participants and engagement, as the lowered expenses won't scare off potential players.
The auction offering 1,500 novel NFT characters will span three days starting May 31, with the characters made available in small intervals through the duration.
Square Enix has provided a detailed guide on transferring your assets to Arbitrum One in preparation for the event.
While embracing Arbitrum marks a pivotal step for Symbiogenesis, it remains unclear whether Square Enix will persist in using this Ethereum-scaling sidechain for future NFT project elements. using Polygon The company has not yet clarified this, and future decisions may lean on feedback gathered from users and Arbitrum's performance during the anticipated auctions.
Leading Blockonomi and founding Kooc Media, an innovative British media firm. Advocate for open-source platforms, blockchain innovations, and equitable internet access.
