Square Enix to Discontinue Symbiogenesis Web3 Venture in July
Square Enix has made the decision to wrap up its Web3 venture, Symbiogenesis, in July and discontinue its services. This announcement comes as a disappointment to many, as the platform was expected to be a hit blockbuster in the world of role-playing games.
The project was launched amidst a peak in the non-fungible token (NFT) market’s fatigue in 2023. Unfortunately, Symbiogenesis failed to meet the low expectations of players in the sector. Initially, the game allowed players to purchase NFT-based characters and embark on a mystery multi-chapter fantasy journey. However, the market’s growing fatigue and burnout from other projects played a significant role in the project’s underwhelming reception.
Despite the promise of excitement with its 10,000 NFT characters and utility, Symbiogenesis did not offer users any financial incentives for playing and lacked engaging gameplay. The project aimed to follow in the footsteps of successful projects like Axie Infinity and Off The Grid but fell short of adopting their mechanisms. Players found that the items sold within the game had minimal returns on investment, with most items selling for only a couple of thousand dollars at their peak.
The gameplay itself involved a treasure hunt across the Floating Island, a setting created by the developers. Players could earn points, unlock story content, craft and enhance their items, and climb the leaderboards. However, compared to Square Enix’s other mobile games, players considered Symbiogenesis to be below par and more of an experimental project.
One of the major disappointments for players was the announcement that the game would conclude after the final X chapter on July 31, 2025. This decision came as a shock, especially after developers had hinted at new in-game activities and features rolling out in the months leading up to the closure.
The instability and constant changes in Web3 gaming projects have been a downfall for many, as players struggle to trust projects that continuously evolve. While Square Enix initially intended Symbiogenesis to be a finite experience, the addition of changes such as expanding the number of in-game NFTs for purchase caused the project to lose its momentum.
Despite the setback with Symbiogenesis, Square Enix remains a prominent player in the Web3 gaming scene. The company has released several successful projects, including The Sandbox, and has partnered with various development studios and networks. While the discontinuation of Symbiogenesis may be disheartening, Square Enix’s track record in the gaming industry suggests that they will continue to innovate and deliver exciting projects in the future.