Japanese firm Square Enix is set to initiate an NFT auction for its latest offering, Symbiogenesis, marking its first expedition into the Web3 gaming system.
Built on the Ethereum and Polygon blockchain networks, the auction is scheduled to unfold in three phases, starting from Nov. 27 to 28, while the second phase will be from Nov. 28 to Dec. 1. The third phase will start from Dec. 2 to 3.
According to the firm’s social media announcement, the publisher behind “Final Fantasy” indicated each phase of the auction will provide participants with a unique chance to buy digital collectibles essential to the game’s experience.
The initial phase will entail an exclusive sale of 10 NFTs to associates, and each wallet will be limited to one NFT. The company further emphasized that every auction stage will cater to different groups because of their involvement in the Allow List Entry Campaign held in November.
An additional 90 NFTs will be available for top-ranking participants during the second phase of the auction, with one NFT per wallet limit.
According to the company, the third and final phase opens up the sale of 400 NFTs to all campaign participants and has no purchase limit and a broader range of NFT categories.
Starting next week, it's finally time for the start of the auction!
Phase 1: 11/27 12:00 – 11/28 11:59 (JST)
Phase 2: 11/30 12:00 – 12/1 11:59 (JST)
Phase 3: 12/2 12:00 – 12/3 11:59 (JST)
— SYMBIOGENESIS -NFT Art＆Game Project- | SQUARE ENIX (@symbiogenesisPR) November 24, 2023
According to a CryptoSlate article, eligibility and ranking of the three phases are determined by participants’ social media engagement, discord activities, and possession of Symbiogenesis relics, paying particular attention to community involvement.
Higher-ranking participants stand a chance to receive free character NFTs during the second phase.
The CryptoSlate article notes that this structure highlights Square Enix’s focus on integrating community participation with the NFT auction.
What is Symbiogenesis?
Taking from the hype created around it, Symbiogenesis is a digital collectible art project that is a fusion of traditional gaming elements with the burgeoning field of NFTs.
According to its website, the game’s genre is defined as “narrative-unlocked NFT entertainment.”
Symbiogenesis’ ending is not predetermined, affording players a chance to determine the outcome of the game based on their in-game achievements.
While players can engage with the game and follow the main storyline without buying NFTs, owning an NFT character, however, unlocks additional content and the opportunity to influence its ending.
Square Enix is expected to release the digital assets in limited quantities alongside each new story chapter, unlike with the traditional NFT launches. With Symbiogenesis, the company will be “gradually unveiling the game to the world.”
The NFTs serve multiple purposes, according to the company, ranging from unlocking narrative elements to being tradeable assets on the blockchain.
The Japanese firm also emphasizes the role of its Discord server in the game’s community, offering exclusive characters and rewards for active involvement. The gameplay is segmented into six chapters. Each of the chapters has its own missions and quests.
Players will navigate through a variety of game modes, inclusive of daily rewards, quests, and missions. These are all accessible via an intuitive menu system.