Square Enix Adopts Arbitrum for Symbiogenesis NFT Character Minting

TLDR

• Square Enix, the company behind popular game franchises like Final Fantasy and Kingdom Hearts, is moving its Symbiogenesis blockchain game’s NFT character minting to Ethereum layer-2 network Arbitrum.
• The shift to Arbitrum aims to reduce gas fees for minting NFTs to around 1/1000 of the previous cost on the Ethereum mainnet, making the process more accessible and cost-effective for users.
• The first wave of 500 character NFTs was minted on the Ethereum mainnet in December, with some social media mockery around the curious names like “Egg” and “Starvation.”
• A total of 1,500 new NFT characters will be released on Arbitrum in a three-day public auction starting on May 31, with characters released in small batches.

Square Enix, the video game giant behind popular franchises like Final Fantasy and Kingdom Hearts, has announced a significant shift in its approach to NFT minting for its blockchain game Symbiogenesis.

The company is moving the next wave of NFT character minting to Ethereum layer-2 network Arbitrum, aiming to reduce gas fees and enhance user experience.

[SYMBIOGENESIS NFT Auction on Arbitrum!]
The public auction finally starts tomorrow, 5/31, at 11:48 AM (JST)!

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).

Check out all 1,500 NFT characters!… pic.twitter.com/RsHfmeVafT

— SYMBIOGENESIS -NFT Art＆Game Project- | SQUARE ENIX (@symbiogenesisPR) May 30, 2024

The decision to adopt Arbitrum comes after the first batch of 500 character NFTs was minted on the Ethereum mainnet in December. While the initial minting process incurred high gas costs, the move to Arbitrum is expected to reduce fees to around 1/1000 of the previous cost, or approximately 1.3 yen (about $0.01) per bid.

Symbiogenesis is a story-driven adventure game that incorporates NFTs for characters and various in-game items.

The game’s unique approach has garnered attention from both gaming enthusiasts and blockchain technology advocates. However, the high transaction costs associated with minting NFTs on the Ethereum mainnet have been a significant challenge for the project.

By leveraging Arbitrum’s capabilities, Square Enix aims to tackle this issue head-on, making the NFT minting process more accessible and cost-effective for users.

The reduced fees are expected to boost adoption and engagement, as more players will be able to participate in the minting process without being deterred by high costs.

The upcoming public auction for 1,500 new NFT characters will take place over three days, starting on May 31. The characters will be released in small batches throughout the auction period.

Square Enix has provided a how-to guide for users to bridge their assets to Arbitrum One in preparation for the event.

While the shift to Arbitrum is a significant development for Symbiogenesis, it remains unclear whether Square Enix plans to continue using Polygon, an Ethereum sidechain scaling network, for future in-game NFT assets.

The company has not provided clarification on this matter, and the decision may depend on user feedback and the performance of Arbitrum during the upcoming auction.