Square Enix

Nifty News: Yuga Labs scores court battle win, Mandala Metaverse to drop on Polkadot and more…

A metaverse/AR story game is coming to Polkadot, Square Enix has made another Web3 gaming play, and an NFT esports cricket game has launched on Tezos.

Bored Ape Yacht Club (BAYC) creator Yuga Labs has scored a key victory in its long-running court battle with Ryder Ripps, the co-creator of copycat nonfungible token (NFT) project RR/BAYC.

Yuga Labs initially filed a complaint against Ryder Ripps and his co-founder, Jeremy Cahen, back in July 2022, alleging that the duo had engaged in trademark infringement, false advertising and unfair competition, among other things.

In a pre-trial summary judgment ruling on April 21, the United States District Court for the Central District of California found that Ripps and Cahen had infringed Yuga Lab’s trademarks with their RR/BAYC NFT collection.

The court further ruled that Yuga Labs is entitled to an injunction and damages, the latter of which will be determined at trial.

In a message shared with Cointelegraph, a Yuga Labs spokesperson said:

“In a landmark legal victory for Web3, a federal judge found that Ryder Ripps and Jermey Cahen infringed Yuga Lab’s intellectual property. This isn’t just a win for us, it’s a win for the entire Web3 industry to hold scammers and counterfeiters accountable.”

Ryder Ripps and Jeremy Cahen created RR/BAYC back in May 2022 as a satire and protest against Yuga Labs. The project essentially uses all of the same imagery as the original BAYC NFTs.

Copycat NFTs. Source: RR/BAYC

Ripps, in particular, is a leading proponent of the conspiracy theory that Yuga Labs purposely designed the BAYC artwork to convey racist caricatures. Additionally, Ripps also asserts that the project’s logo and branding have several nods to certain Nazi symbols and language.

Mandala Metaverse to drop on Polkadot

Upcoming cross-chain augmented reality (AR) game Mandala Metaverse has chosen Polkadot parachain Astar Network to host its first major NFT drop on April 28.

Mandala Metaverse is a story-based project with content spanning TV, graphic novels, gaming and AR. Its gaming elements have been developed in Epic Games’ AAA quality Unreal Engine.

The drop is called “Cryptonauts,” and the NFTs depict various avatars that will serve as playable characters in the game. The artwork was illustrated by comic artist Bruce Zick, who has worked with giants such as Disney and Marvel.

The Polkadot blockchain is not necessarily known for hosting gaming and NFT projects, with the network not even having any recorded sales data on aggregators such as CryptoSlam.

Regarding the decision to take the Cryptonauts NFTs to Polkadot, Mandala Metaverse CEO Jon Shanker noted:

“Polkadot has real future-proof NFT applications, such as nesting, staking and the ability to send NFTs over bridges – plus many other innovative ways to use NFT assets. We can now do things we didn’t think were possible.”

Square Enix partners with Elixir Games

Final Fantasy developer Square Enix has partnered with Web3 infrastructure firm Elixir Games to bring blockchain gaming to the mainstream.

The move was announced on April 19, though specific details on the partnership are still sparse.

Elixir hosts both traditional and Web3 games on its platform and also offers Web3 distribution features for its partnered games, such as NFT sales and marketplaces.

As such, Square Enix will likely take advantage of those features when launching games via Elixir, something the firm has become increasingly interested in doing over the past year or so.

Related: NFT.NYC: Games and tokenization are driving NFT industry maturation

“This partnership brings us closer to Web3 gaming mass adoption. Our team is incredibly excited to bring our technology to work, and we foresee Elixir users playing Web2 and Web3 games alike without distinction,” said Carlos Roldan, Elixir Games’ CEO, as part of the announcement. Roldan added:

“2023 has already seen more industry leaders enter the space with impactful projects, and we anticipate to see more as the year progresses. We’ve put all efforts to ensure we are ready for scalability.”

NFT cricket game on Tezos

A free-to-play multiplayer NFT cricket strategy game called Cricket Stars has been launched on the Tezos blockchain.

The game is being led by Tezos India — an organization that focuses on developing projects on Tezos — in partnership with esports game publisher GoLive Games. Despite the name, however, no licensing deals with actual cricket stars appear to be in place.

Cricket Stars. Source: GoLive Games

Cricket Stars follows a similar model to other sports NFT games, like Sorare, by offering player cards that can be used to have an effect on the game or traded on the marketplace. The game also offers player vs. player modes, knockout tournaments and esports tournaments.

“We understand the power of blockchain technology and its role in the gaming ecosystem. Our partnership with Tezos India is an astounding statement of blockchain technology becoming an integral part of the gaming industry,“ noted GoLive Games founder Ravi Kiran as part of the announcement. 

Nifty News: Trump NFTs pump after indictment, Q1 trading volume hits $4.7B and more

The total NFT market trading volume in Q1 hit $4.7 billion, doubling the previous quarter, while Square Enix dropped Final Fantasy trading cards that can’t be traded yet.

Following news of a New York Grand Jury voting to indict former president Donald Trump on March 30, the floor price for the officially licensed Trump Digital Trading Cards nonfungible token (NFT) project pumped.

According to data from OpenSea, NFT traders were seemingly spurred into action by the announcement, with the floor price moving from 0.46 Ether (ETH) or $835 at current prices, to as high as 0.6 ETH ($1090) on the same day.

Trump Digital Trading Cards floor price. Source: OpenSea

When the project launched in December 2022, it offered exclusive one-on-one experiences to certain NFT hodlers, such as private golf sessions, dinners and conversations with Trump.

The indictment news could potentially impact the former president’s ability to deliver on the experiences. 

At the time of writing, the floor price has since dropped back to around the 0.51 ETH range. The price still sits well above the initial mint price of $99 from December.

NFT sales hit $4.7B in Q1

According to a March 30 report from blockchain analytics platform DappRadar, there was $4.7 billion worth of NFT trading volume in Q1 2023, more than double that of the previous quarter.

The firm pointed to bullish action from the Blur marketplace, which took the market by storm during its token airdrop farming period in February.

The $4.7 billion came from 19.4 million NFT sales in Q1, marking an increase of 8.56%, with total volume increasing by 147% compared with the $1.9 billion posted in Q4 2022.

Total NFT market trading volume. Source: DappRadar

The Ethereum network accounted for a whopping $4.1 billion worth of the volume, with second-placed Solana contributing $242 million, while Polygon ranked third with $85 million for the quarter.

Trading volume by blockchains. Source: DappRadar

Square Enix drops Final Fantasy NFT trading cards

Square Enix, the Japanese gaming giant behind the widely popular Final Fantasy franchise, has released NFT trading cards in celebration of the 25th anniversary of Final Fantasy VII.

The NFTs are part of the Final Fantasy VII Anniversary Art Museum Digital Card Plus collection, which features five physical cards and a sixth digital NFT card.

Final Fantasy VII trading card artwork. Source: Square Enix

However, despite being called trading cards, Square Enix stated on its website that the NFTs couldn’t be traded or transferred at this stage unless the company decides to build a marketplace in the future.

“If we decide to support the marketplace in the future, we will notify you,” the website reads.

The packs were dropped on March 31 and cost around $3.30 a pop, with the card artwork depicting various characters and scenery from the iconic Final Fantasy VII game.

While it is unclear if the firm intends to build a marketplace to support its digital collectibles, Square Enix has been gradually ramping up its NFT and blockchain gaming-related initiatives over the past few years, suggesting something could be in the works.

NFT flight tickets

Low-cost Argentine airline Flybondi has launched domestic NFT flight tickets under an initiative called “Ticket 3.0.”

According to a rough translation of a March 29 announcement from the firm, users of the new service will be able to change names on the tickets directly, transfer them to other people or give them away, essentially streamlining the firm’s current ticketing models.

Ticket 3.0. Source: Flybondi

“With Ticket 3.0, our passengers will have greater flexibility and control over their trips because they will be able to transfer, rename or give away their tickets in a simple and autonomous way,” noted Flybondi CEO Mauricio Sana, adding that:

“With this launch, we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology.”

The move comes from an expanded partnership with NFT ticketing company TravelX, which launched late last year and utilizes the Algorand blockchain for its tokenization.

Other Nifty News:

Wakweli, a Web3 infrastructure protocol that issues certificates of authenticity, has officially partnered with layer-2 scaling platform Polygon to make NFT authentication possible.

On March 27, United States-based ticketing company Ticketmaster announced a new feature — token-gated ticket sales — allowing artists to reward NFT holders with exclusive benefits, including “special presales, prime seats, custom travel packages and access to unique concert experiences.”

Nifty News: Dan Harmon’s NFT show set for season 3, NFT-friendly Square Enix CEO steps down and more

Square Enix’s NFT-friendly CEO is stepping down, but it may not impact the firm’s NFT plans, and Disney-backed Baobab Studios’ first NFT drop sells out.

Krapopolis, the nonfungible token (NFT)-affiliated cartoon series from Rick and Morty co-creator Dan Harmon, has been renewed for a third season by Fox, despite season one not even airing yet.

The Krapopolis team announced the renewal via Twitter on March 2 and emphasized that NFT holders can still engage with the show before it airs.

Speaking to Deadline on March 2, Michael Thorn, Fox’s president of scripted programming, noted  “We’re so bullish about the work that we want to support and its ability to find an audience and succeed,” as he emphasized his faith in Harmon. “While [a third season order] is atypical, it was a no-brainer for us with Krapopolis,” he added.

Krapopolis is an animated comedy set in ancient Greece that follows a “flawed family of humans, gods and monsters that try to run one of the world’s first cities without killing each other.”

The cast includes some big names such as Richard Ayode, Matt Berry, Pam Murphy, Duncan Trussell and Hannah Waddingham.

The series is produced by Fox Corp’s NFT firm Blockchain Creative Labs, which also provides the NFT-related elements for the show.

The NFTs are called “Krap Chickens,” and depict cartoon chicken avatars in the same art style as the show. There are 10,420 tokens, with some still up for mint at 0.18 Ether (ETH).

Krap Chickens. Source: Krapopolis

Holders are given exclusive access to experiences, content, rewards and voting rights on certain aspects of the show.

Square Enix’s CEO steps down

Square Enix’s NFT-friendly CEO, Yosuke Matsuda, is stepping down after nearly 10 years at the helm of the firm behind the fantasy franchise.

In a March notification of company changes, Square Enix outlined that Takashi Kiryu will take over the CEO role from Matsuda. However, the move won’t be finalized until an annual shareholders meeting in May.

While Web3 and NFTs weren’t referenced explicitly in the notification, the firm did indicate that it is still looking to push on with new tech integrations, suggesting its blockchain-related plans may remain unhindered.

“Under the rapid change of business environment surrounding the entertainment industry, the proposed change is intended to reshape the management team with the goal of adopting ever-evolving technological innovations and maximizing on the creativity of the Company’s group,” the filing read.

While at Square Enix, Matsuda took a bullish position on Web3 gaming several times.

In a New Year’s letter from Jan. 1, Matsuda emphasized Square Enix had devoted “aggressive investment and business development efforts” toward the space in 2022 and would continue to do so in 2023.

“Following the excitement and exhilaration that surrounded NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space,” he mentioned in the note, adding:

“However, if this proves to have been a step in a process that leads to the creation of rules and a more transparent business environment, it will definitely have been for the good of the growth of blockchain entertainment.”

Under Mastuda’s leadership, Square Enix rolled out tokenized Final Fantasy character collectibles in July 2022 and partnered with the Oasys blockchain gaming project in September. In December 2022, the firm also invested $52.7 million into mobile game developer Gumi Games to help develop mobile-based play-to-earn titles.

Mint Madness

Multichain NFT marketplace Magic Eden has launched a “Mint Madness” campaign that offers free access or “free mints” to 13 Web3 games in March.

Mint Madness went live on March 3, and the name is a nod to the famous NCAA college basketball tournament dubbed “March Madness,” which sees roughly 67 basketball games crammed into the month.

The blockchain games are spread across Polygon, Ethereum and Solana, with nine, three and one apiece, respectively. Magic Eden also offers a 20,000 Polygon (MATIC) prize pool worth roughly $23,200.

The prizes will go to the top 10 traders of the NFTs related to nine of the new games based on Polygon, with the top prize fetching 4,500 MATIC ($5,220).

Related: Galaxy tips Bitcoin NFT market to hit $4.5B by 2025

The full list of available games during the promo includes Planet Mojo, Meta Star Strikers, Alaska Gold Rush, Shrapnel, Petobots, Blast Royale, Rogue Nation, Tearing Spaces, Freckle Trivia, Realm Hunter, Legendary: Heroes Unchained, Shrapnel and Papu Superstars.

Disney-backed studio’s sell-out drop

Disney-backed Baobab Studios sold out its first collection of 8,888 NFTs just nine hours after launch on March 2.

The cartoon avatar-focused drop is called “Momoguro” and is tied to an upcoming role-playing game on layer 2 Ethereum scaling solution, ImmutableX.

The game has breeding elements and quests in a world named “Uno Plane,” with NFTs being a key part of the gaming experience.

According to data from CryptoSlam, the NFTs have generated $8.1 million worth of secondary sales to date, with $7.6 million coming on the day of launch.

Other Nifty News:

Layer 1 Ethereum Virtual Machine blockchain, Flare, welcomed its first NFT platform after Sparkles went live on March 2. The platform is set to hone in on the interoperability of native Flare protocols to increase use cases for NFT utility.

On March 1, trading platform Robinhood launched its Web3 wallet on Apple’s app store, becoming available to iOS users in over 130 countries.

Nifty News: Square Enix invests into NFT gaming firm, Beeple speaks on NFT art future and more

Pokémon Company International has taken an Australian company to court over advertising an unlicensed NFT-based Pokémon game and HSBC has filed for a host of NFT and Metaverse trademarks.

Nonfungible token (NFT)-friendly Japanese gaming giant Square Enix has invested 7 billion yen ($52.7 million) into game developer Gumi to create “high-quality” mobile games, blockchain games and a Metaverse initiative, among other things.

Gumi mobile games: Gumi

According to a translation of the press release, the partnership will help Gumi tap certain intellectual property from Square Enix, while it has also teased that the duo could be teaming up for a game-NFT-focused marketplace.

“We are already considering the establishment of a platform dedicated to blockchain games and an NFT marketplace, etc. Through collaboration between the two companies, we will provide a one-stop service from the development and distribution of blockchain games to the sale and distribution of tokens and NFTs.”

The company also outlined plans to work on a host of NFT games that will likely have metaverse integrations. The Japanese company has outlined a quirky new term called “Wow and Earn,” which essentially refers to games built off of world-famous IP that is integrated with blockchain-based play-to-earn (P2E) features.

“In the future, while considering the use of powerful content that everyone recognizes, we will break away from the highly speculative blockchain games of the past and create value while enjoying fun and excitement. We strongly recognize that it is necessary for game users all over the world to create a blockchain game that realizes ‘Wow and Earn,’” the release reads.

Gumi also stated that its “working day and night” to develop its metaverse-focused arm of the business as it looks to add another source of revenue outside of mobile games.

Gumi has previously worked with Square Enix on a couple of mobile games as part of the Final Fantasy Brave Exvius series, and both firms are partners of the Oasys blockchain-gaming project, which is building its own network designed purely for P2E gaming.

Beeple outlines future of NFTs and art

Michael Winkelmann, the widely successful digital artist also known as Beeple, believes that all physical art in the future will one day have an NFT attached to it.

Speaking with the Wall Street Journal on Dec. 23, Beeple suggested that NFTs will massively help the art industry by providing superior methods for tracking provenance and storing verifiably authentic data.

“I think all paintings will eventually have NFTs attached just because again, it’s a better system than just handing you a piece of paper,” he said, adding that:

“If you had a standardization around ‘this is a painting,’ you could have all the provenance in the metadata of that NFT. You could have [that data on] where that painting was shown. So it’s all there and it’s searchable in a database.”

As such, he thinks that NFTs will eventually help build a standardized art database that “everyone relies on.”

Beeple: Wall Street Journal

Pokemon takes NFT company to court

Pokémon Company International has taken an Australian company to court over advertising an unlicensed NFT-based Pokémon game, according to documents lodged with the Federal Court of Australia.

The company in question is called “Pokémon Pty Ltd” and it has been advertising an unlicensed “metauniverse” P2E game on Ethereum called Pokeworld.

Pokeworld: Pokémon Pty Ltd

On its website, it also claims to work on a host of official Pokemon games in the past, while it also claims to have an official partnership with Pokémon Company International.

However, in the court documents, the Pokemon IP holders are seeking to restrain Pokémon Pty Ltd from representing that they hold any license, partnership or rights to sell Pokemon NFTs.

It has also called for the company to halt the launch of the game, and promote it using Pokemon trademarks on its website and social media.

HSBC trademarks

British multinational megabank HSBC has filed virtual trademarks for its name and logo, outlining potential plans for a host of NFT, blockchain and metaverse products.

In its filing, highlighted by licensed trademark attorney Mike Kondoudis via Twitter on Dec. 23, the HSBC lists a host of products and services including downloadable NFT virtual goods and files, virtual world-friendly debit cards, NFT music and video content files.

The metaverse appears to be a keen focus in the filing, as it also states that it is looking at providing financial advisory and entertainment services in the metaverse and other virtual worlds.

Other Nifty News

Hackers linked to North Korea’s Lazarus Group are reportedly behind a massive phishing campaign targeting NFT investors — utilizing nearly 500 phishing domains to dupe victims.

NFT marketplace OpenSea has been banning artists and collectors from Cuba, citing United States sanctions as the key reason behind its action.

Bandai Namco, SEGA among gaming giants eyeing blockchain gaming

Big gaming firms are working to spur mainstream blockchain gaming adoption, and don’t want to “change that policy” even if it causes pushback from some.

Japanese gaming giants are positioning for mainstream blockchain game adoption and will not be swayed by the section of gamers that are against crypto and nonfungible tokens (NFTs), an executive from the Oasys blockchain project told Cointelegraph.

Speaking to Cointelegraph at the 2022 Tokyo Games Show last week, Oasys representative director Ryo Matsubara emphasized that the project’s big-name partners such as Bandai Namco, Sega and Square Enix are not just jumping on the crypto bandwagon — there’s a long-term vision for blockchain-based gaming:

“We have a shared vision about blockchain at the executive level. They don’t [want to] change that policy. They really understand the future adoption of blockchain. They’re not thinking about, you know, just the revenue, they want to create the next future [of gaming].”

Bandai Namco has developed beloved titles such as Tekken and Pac-Man, Sega’s most famous title is generally seen as Sonic the Hedgehog, while Square Enix is the developer of the widely popular Final Fantasy franchise.

Questioned whether these companies are looking to integrate blockchain tech with their current gaming franchises, Matsubara suggested that they are initially looking at developing brand new blockchain games instead.

He noted that as this is a completely “new model” of gaming, it needs more time to mature before these big companies will look at broader blockchain integrations with traditional games.

“When the model is fixed, becomes sustainable and successful, then strong [popular] IP will be added,” he said.

Looking at what needs to be improved in blockchain gaming, Matsubara noted that a “big problem” so far is that many projects are too dependent on the price of in-game tokens. As a result, there is more demand for “speculation” rather than the gameplay itself.

He went on to note that there will be an “adjustment” over time as projects work to develop genuine hype for the games themselves, most likely by improving the overall gaming experience.

Related: Japanese gov’t issues NFTs to reward local authorities’ work

This echoed similar sentiments to the lead community manager at Australia-based game developer and Animoca Brands subsidiary Blowfish Studios Luke Sillay, who was also at the event.

During an interview with Cointelegraph, Sillay emphasized that more people want games that are actually “fun to play” rather than just a hustle to earn tokens.

Oasys’ proof-of-stake blockchain is geared directly toward gaming and is tentatively set for an official mainnet launch in the remaining months of this year. Matsubara also hinted that games from its big-name partners will likely be announced next year.

Looking outside Japan, major western gaming companies such as Fortnite developers Epic Games have increased exposure to blockchain gaming  of late. Last week the Epic Games store listed a new free-to-play NFT game called Blankos Block Party by Mythical Games.

The move follows comments from Epic Games CEO Tim Sweeney in July, in which he stated that his company “definitely” wouldn’t follow Microsoft’s Minecraft in banning NFT integrations in games.

Final Fantasy creators join Oasys blockchain, gamers whine about it

As part of the deal, Square Enix will develop games on Oasys’ PoS network, joining the likes of Sega, Double Jump, Bandai Namco and Ubisoft.

Square Enix, the Japanese game developer behind the beloved Final Fantasy franchise, has signed on as a node validator for blockchain gaming project Oasys, with the duo also teaming up to create blockchain games.

The move has predictably been met with criticism from some crypto- and NFT-hating members of the gaming community, irritated that the firm is continuing to double down its focus on blockchain tech.

In a Monday announcement, Oasys revealed that Square Enix had jumped on board to be the project’s 21st node validator, taking up the final slot of initial validators.

Moving forward, the duo will also team up to develop new games on Oasys’ EVM compatible proof-of-stake (PoS) blockchain, which hopes to become a hub for Triple-A quality games with play-to-earn (P2E) integrations.

Square Enix joins a host of big names in gaming to partner with Oasys such as Sega, Double Jump, Bandai Namco and Ubisoft — with the latter also having a troubled history with gamers who have pushed back against the firm’s NFT gaming initiative Quartz.

The pitchforks are out

While the prospect of having reputable gaming giants jumping behind a blockchain project is welcome news in the blockchain world, the traditional gaming community has not received Square Enix’s move well.

The Gamer reported the news, with the headline: “Square Enix Sets Its Dreaded NFT Plans In Motion By Partnering With Crypto Company.”

 Square Enix article: The Gamer

“Unlike most video game developers who decided to announce their ventures into the jpeg-filled world of NFTs, Square Enix has only been doubling down on it,” the article notes, as it questions Square Enix president and CEO Yosuke Matsuda’s previous statements about introducing P2E elements into games:

“He probably ignored the fact that so many NFT games aren’t just scams, but also look like they were made by an actual bored ape.”

On Twitter, gamer ShyVortex said the partnership was “truly disgusting. Never buying a Square Enix game again,” while eramaster12 questioned, “what does it take to f#ckin force them to stop?”

Pilnok also chimed in that this “has become tiresome and embarrassing” and ManuelRomer2 added, “what about just don’t entirely?”

Square Enix and blockchain

Square Enix has been gradually ramping up its blockchain related plans in 2022, despite pushback.

Matsuda stated in a New Year’s Letter in January that he was particularly interested in the idea of introducing blockchain-enabled “token economies” into games to incentivize both players and users that generate content to add to the games.

“With advances in token economies, users will be provided with explicit incentives, thereby resulting not only in greater consistency in their motivation, but also creating a tangible upside to their creative efforts,” he wrote.

Related: Ubisoft cools off on NFTs and blockchain, says it’s in ‘research mode’

While blockchain is yet to creep into Square Enix’s games, the firm kicked things off in July by releasing tokenized character figures for $129.99 featuring characters such as Cloud Strife from Final Fantasy.

Square Enix partners with Enjin to launch Final Fantasy VII collectibles

Fans can pre-order Final Fantasy VII’s 25th-anniversary figures at the Square Enix store while the digital collectibles will be available in 2023.

Game development giant Square Enix partnered with nonfungible token (NFT) platform Enjin (ENJ) to launch a digital and physical collection featuring Final Fantasy VII, a highly popular video game series. 

In an announcement, Enjin said that to get the NFTs, fans must pre-order Final Fantasy VII’s 25th-anniversary products at Square Enix’s store. The products will include a code to the digital collectible counterpart, which can be redeemed on the NFT platform Efinity network in 2023. 

According to Enjin chief technology Witek Radomski, the partnership will have a good effect on digital assets and entertainment. The CTO noted that this is because Square Enix is making its way into the industry, setting an example for other big gaming firms.

In May, the gaming giant revealed its plans to issue tokens and make investments in the Web3 gaming space. The firm highlighted that it will launch more NFTs featuring its games as part of its 2022 business strategy. The success of its initial venture into NFTs has pushed the firm to pursue more initiatives in the blockchain space.

Back in 2020, the game development firm led an investment round for The Sandbox (SAND). With Square Enix and other investors, The Sandbox was able to raise $2 million in cash and digital assets.

Related: Blockchain games take on the mainstream: Here’s how they can win

Earlier in July, Cointelegraph Markets Pro spoke with Radomski through an Ask-Me-Anything session. According to the Enjin chief technology officer, once the bear market settles down, blockchain gaming will emerge, and more established developers will create fun games with NFT utility that are not just play-to-earn.

Meanwhile, experts are clashing on virtual reality’s (VR) place in the Metaverse. While many believe that the Metaverse and VR are a natural fit with each othe, some believe that the two should develop separately without any mutual considerations.