Konami’s first NFT auction brought in over $162,000 in sales on Friday.
As promised earlier this month, publisher Metal Gear and Silent Hill has auctioned off 14 digital artworks based on classic Castlevania games, as part of its “Konami Memorial NFT Collection” launched to commemorate the 35 years of the series.and birthday.
NFTs are unique, non-interchangeable units of data stored on a blockchain (a form of digital ledger), which effectively allow users to own, buy, and sell digital items such as game items or artwork.
As of midnight PT / 8am GMT on Saturday, the entire Konami Memorial Collection had sold through the OpenSea Marketplace, with NFT artwork selling for an average price of around $12,000.
The NFT with the highest selling price was an artwork based on the map of Dracula’s Castle from the original Castlevania game, which sold for $26,538.96.
Another NFT in the form of a 3-minute highlight video edited from various Castlevania gameplay, sold for $17,518. An artwork from the popular Circle of the Moon series entry also sold for over $17,000.
As part of the sales, Konami says those who purchase the NFTs will have their desired nickname listed on its NFT website for ten months.
OpenSea takes 2.5% commission from every transaction on its site, which means Konami could have earned more than $157,000 from the auction.
This figure will likely increase over time, as the company may also set and earn a royalty of up to 10% for each sale of the NFT in the future.
Konami has called the Casltevania Memorial NFT initiative just the “first” project it’s planned with NFTs, and after the huge sums won at its first auction, it’s almost certain to come back with more bids.
Many other game companies have already started selling digital items as NFTs such as Ubisoft, although this has drawn criticism from some due to the format’s high carbon footprint and what many perceive as a cynical implementation.
Square Enix was the latest high-profile game publisher to express its enthusiasm for tech trends.
In a New Year’s letter released over the holidays, President Yosuke Matsuda pledged to integrate blockchain and NFT games into his gaming portfolio.
Matsuda’s comments were criticized by some corners of the gaming industry. However, they seem to have gone down well with the market.
The president’s letter sparked an 8% jump in Square Enix’s stock price earlier this month – its biggest single-day rise since last August – on the first day of trading in Tokyo since its publication.
In his letter, Matsuda said he believes blockchain games “have the potential to enable autonomous game growth” by pushing a “play to win” concept.