Square Enix and NFTs: What Happened, and What It Means in 2026

Square Enix, the Japanese publisher behind Final Fantasy, Dragon Quest and Kingdom Hearts, began working with NFTs in 2021. Public reports show the company sold collectible NFTs tied to its existing franchises and announced plans for blockchain-based games. The move was widely discussed because it touched some of the best-known game series in the industry.

In plain terms, an NFT (non-fungible token) is a record on a blockchain that points to a unique digital item or a certificate for one. Owning the token does not automatically mean owning a game, a character or the artwork behind it. The rights depend on the terms the issuer publishes, and those terms decide what a buyer can do with the item.

The short answer to the title question is that Square Enix did enter NFTs, mainly through collectibles, trading cards and blockchain game development announcements. Those projects were not the same as making its core console and PC games into NFT products, and public reporting do not show that the main Final Fantasy series was rebuilt around tokens.

For readers who want a current view, the key point is that the company's public statements and product pages are the source to check. Any figure about sales, token prices or user numbers changes often, so this guide does not state one.

The company's NFT activity appears in reports from 2021 onward. Some of the earliest items mentioned in coverage were NFT stickers tied to its Million Arthur franchise, released in March 2021.

In early 2022, company leadership wrote publicly in support of NFTs and blockchain games. Coverage from that period reported that Square Enix planned to build games on blockchain technology and that the company saw potential in digital ownership.

Later in 2022, the publisher advertised a Final Fantasy figure with some editions carrying an NFT. Reports in 2023 described Final Fantasy VII trading cards that would include NFTs, and a separate report on Square Enix blockchain games in development was also published in early 2023.

A steady stream of headlines followed, with some noting the wider crypto market downturn. Readers should treat headlines as a starting point, then read the official announcements for dates, terms and product details. Because news cycles move fast, a headline from one year may not describe the company's position in a later year.

The practical lesson from this timeline is that Square Enix tested several formats: sticker-style collectibles, physical goods with digital add-ons, trading cards and game projects. Each format carried different levels of user control and risk.

Two product types drew the most attention from fans: Final Fantasy VII trading cards with NFTs, and a Final Fantasy figure with NFT-linked editions. Coverage described the trading card set as including NFTs, with the cards linked to characters from the game.

The figure coverage raised a different issue. One report described an NFT that could not be traded or sold. That kind of restriction matters because it changes the item from an open collectible into something closer to a proof of purchase or access token.

When you assess a product like this, separate the physical item from the digital token. The figure or card may hold value as a collectible even if the NFT does not trade. Equally, the NFT may hold some value to a collector even if the physical product is damaged or lost.

A simple way to compare these products is a short table:

Feature	What to check
Physical item	Condition, packaging, and whether it is sealed
NFT	Chain, contract address, and whether it can be transferred
Terms	Resale rights, redemption rules, and what happens if the platform closes
Platform	Whether it still supports the token and displays it

Read the product's terms before you buy. If the terms say the NFT cannot be sold, that limit applies regardless of how the item is marketed.

Reaction from fans was strong and often negative. Many players objected to the idea of putting NFTs into long-running game franchises. Critics argued that the tokens added speculation to a hobby built on gameplay and story, and that they could pull a publisher's attention away from the games themselves.

Some of the criticism focused on the risks. Collectible NFTs can lose value quickly, depend on platforms that may change, and sometimes give buyers less control than they expect. Fans who had bought physical goods felt uneasy when a digital add-on came with terms they had not expected.

Other critics pointed to the timing. Several reports tied the push to a period when the crypto market fell sharply, and coverage asked whether the publisher's bet was well judged.

Supporters of the move argued that digital ownership and new formats could give collectors new ways to show support for games they love. That view is part of the debate, and readers can weigh both sides.

For anyone deciding whether to buy a publisher NFT, the useful question is not whether the idea is fashionable. It is whether the product's terms, platform and resale rights match what you expect to own.

Square Enix's blockchain game plans were among the most discussed parts of its NFT strategy. Coverage in 2022 and 2023 said the company was developing several blockchain games, and it also publicly discussed a project connected to its blockchain work.

A blockchain game is a game where some assets, rewards or ownership records are stored on a blockchain. That can mean tokens for items, in-game currency or access rights. Whether a game is worth playing depends on the gameplay first. Token features are an add-on, not a substitute for fun or a good story.

Public reporting do not give a clear, current list of released titles, so this guide does not name them. If you want to know what has launched, check the publisher's official site and store pages, and look for any release notes that describe the blockchain part.

When a game uses NFTs, read how the tokens affect progress. Ask whether items can be lost if a server closes, whether a token can be moved to another wallet, and whether the game can be played without buying anything. These questions show how much of the experience depends on the blockchain layer.

A good rule is to judge the game as a game first. If the token features make the product harder to understand or more expensive without adding real play value, that is a warning sign.

Whether the NFT push was a success depends on what you measure. Sales figures, user numbers and token prices are not in the results in a form this guide can rely on, and they change often. Any figure you find online should be checked against the original source and a date.

The broader NFT market also changed a lot after 2021. Trading volumes, prices and interest in collectibles rose and fell over time. Several headlines in the results framed the company's activity against a wider NFT downturn. That context matters because a publisher's product launch is judged partly by the market it arrives in.

One result suggested that Square Enix moved away from some of its Western studio holdings while pushing NFTs. The results do not give enough detail to confirm the reasons, so treat that as a claim to verify, not a settled fact.

For a fair assessment, compare three things: whether the products were delivered as described, whether holders can still use or sell them, and whether the company has kept its public commitments. Those questions give a clearer picture than headlines alone.

If you want current data, check the publisher's investor materials, the platforms that hosted the NFTs, and a block explorer for on-chain activity. Those sources show more than commentary does.

If you already own a Square Enix NFT, the first step is to confirm what you actually hold. Find the transaction in your wallet history, note the blockchain, and record the contract address and token ID. Keep screenshots of the original listing or product page, and save any receipts.

Next, read the terms that came with the product. Look for resale rights, redemption rules and any statement about what happens if the platform stops operating. If the terms are no longer online, record that fact and save an archived copy if you have one.

Then check the platform. Confirm whether the marketplace or app still displays the token and whether it still supports transfers. A token can be visible in one place and not another, so check more than one source.

Finally, review your security habits. Use a hardware wallet or a well-maintained software wallet, keep your seed phrase offline, and never share it. Approve only the transactions you understand, and revoke old token permissions when you no longer need them.

These steps will not change the value of the item, but they give you a clear record and help you spot problems early.

Buying a publisher NFT is a purchase of a digital product, not a guaranteed investment. Prices can rise or fall, and there may be no buyer when you want to sell. Only spend what you can afford to lose, and do not treat collectibles as a way to make money quickly.

Before you buy, check the seller and the platform. Use the official publisher channels to find links to any legitimate sale. Be cautious of direct messages, social posts or search ads that offer a discount on a publisher NFT, because scams often copy official branding.

Compare the price with the same item on other platforms, and check the transaction fees, royalty terms and any extra charges. Some marketplaces charge fees to buyers and sellers, and those costs reduce your return.

Confirm that the blockchain used by the item is one your wallet supports. Sending a token to the wrong network can make it hard or impossible to recover.

If you sell, check the same points in reverse. Confirm the buyer is using a trusted platform, and avoid moving payment outside the marketplace. Keep records of the sale for tax and accounting purposes, and check local rules on reporting crypto gains.

Several other NFT projects tied to well-known brands use similar structures: a licensed collectible, a marketplace, and terms set by the rights holder. Sports collectibles are a useful comparison because they combine licensing, pack drops and secondary trading.

For example, FIFA's Fifa Collect platform was launched on Algorand and offers World Cup items and ticket packs. NBA Top Shot and NFL All Day, both from Dapper Labs, use highlight-based NFTs on the Flow blockchain. These platforms are not the same as Square Enix's games, but they show how licensed collectibles are usually sold: through a named platform, with rules set by the rights holder.

If you want to explore those examples, read each platform's own terms and check how the items are displayed and transferred. Do not assume that a licensed product has the same rights or risks as another one.

General NFT marketplaces such as OpenSea and Telegram-based collectibles follow a similar pattern. Each has different fees, supported chains and rules for transfers. Use the platform's official help pages as the source of truth.

The main takeaway is that a brand's name does not guarantee the value or resilience of a token. The platform, the terms and the blockchain behind it matter just as much.

The main questions for the next period are practical. Will the publisher keep releasing NFT products, and if so, what rights will buyers get? Will the blockchain games launch with clear terms? Will existing holders receive support if a platform changes?

To track the answers, use three sources. The publisher's official investor and press pages will show formal announcements. The platforms that hosted the NFTs will show notices about support, transfers or closures. A block explorer for the relevant chain will show on-chain activity for specific tokens.

For news, choose a mix of sources and read past the headline. Check the date, the original statement and whether the report quotes the company directly. Be careful with rumours about partnerships or future products, because they are often wrong or outdated.

If you are a fan rather than a buyer, the most useful habit is to follow the games, not the token headlines. Judge the publisher on the quality of its releases, the clarity of its terms and how it treats players and collectors.

This guide covers a topic that changes quickly. Treat public information here as a starting point, and verify anything that affects money, ownership or access before you act.