Square Enix Launches FF7: Nifty Newsletter, July 20-26

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Read in this week’s newsletter how game developer Square Enix plans to launch Final Fantasy VII digital collectibles. Check out the new Open Metaverse Alliance for Web3 and how NFT sales will fund artwork restoration efforts in Ukraine.

In other news, you can read how a falling man’s NFT was removed from the GameStop marketplace under community pressure. And don’t forget this week’s Nifty News roundup with a joke gone wrong, leading to the loss of 100 Ether (ETH).

Square Enix Teams Up With Enjin To Launch Final Fantasy VII Collectibles

Game development company Square Enix has partnered with NFT platform Enjin to launch digital and physical collectibles of the popular Final Fantasy VII (FF7) video game. The digital collectibles will be paired with their physical counterparts that will be available in the Square Enix store.

To acquire FF7’s digital collections, fans must redeem the code found on the physical products on the NFT platform called Efinity Network. According to the announcement, the FF7 collection will be available on Efinity in 2023.

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Web3 Platforms Launch the Open Metaverse Alliance

The Open Metaverse Alliance for Web3 was created by a number of blockchain platforms, including Alien Worlds, Animoca Brands, Dapper Labs, Decentraland, MetaMetaverse, Space, Superworld, The Sandbox, Upland, Voxels, and Wivity.

The alliance will be a Decentralized Autonomous Organization (DAO) to ensure transparency in governance. The DAO aims to set standards for NFTs, portals between worlds and interoperability.

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NFT sales will fund restoration of physical monuments in Ukraine

The government of Ukraine will use money from NFT sales to restore real works of art destroyed in the war with Russia. In an announcement, Ukraine’s Ministry of Culture and Information Policy said the Meta History Museum of War, a government-backed platform, has raised about $1.3 million in NFT sales and will use the proceeds for the restoration of artworks.

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While NFTs will not stop the attacks from Russia, Ukrainian official Oleksandr Borniakov said it offers Ukraine an opportunity to rebuild its economy and develop as an innovation-friendly country.

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GameStop “Falling Man” NFT Saga Shows Human Power At Its Best

A controversial NFT listing on GameStop’s NFT marketplace was removed after community pressure. The NFT, called Falling Man, depicted a man in a spacesuit falling down. The NFT looks like a very famous photo of the 9/11 terrorist attack on the World Trade Center with a man falling.

The artwork was criticized when members of the community pressured GameStop to remove it from their platform. The NFT platform eventually removed the NFT from its marketplace and banned the artist from creating NFTs.

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Helpful news: BAYC hodler loses 100 ETH in “joke” domain sale gone wrong

An NFT whale who owns many expensive Bored Ape Yacht Club NFTs made a mistake while performing a prank, resulting in a loss of 100 ETH. In an effort to activate and mock the EnsBidsBot on Twitter, the NFT whale named Franklinisbored placed a bid on the Ethereum Name Service domain they listed themselves. However, the tide turned when they forgot to remove the bid before accepting another bid of 1.9 ETH.

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Thanks for reading this summary of the week’s most notable developments in NFT. Check back next Wednesday for more reports and insights into this actively evolving space.