Square Enix to launch FF7: Nifty Newsletter, July 20–26

cointelegraph.com:

In this week’s newsletter, read about 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 learn about how an NFT of a falling man was removed in the GameStop marketplace following community pressure. And, don’t forget about this week’s Nifty News roundup featuring a joke gone wrong, leading to the loss of 100 Ether (ETH). 

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

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

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The Open Metaverse Alliance for Web3 has been 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 has the goal of setting standards for NFTs, portals between worlds and interoperability. 

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Related: NFT utility to remedy ticketing dilemmas? Experts weigh in

The government of Ukraine will use funds from NFT sales to restore real-world works of art destroyed in the war with Russia. In an announcement, Ukraine’s Ministry of Culture and Information Policy