Key Takeaways
- Sq. Enix has introduced that it’s going to unload a number of studios and IPs to give attention to blockchain, AI, and cloud gaming.
- Embracer Group, which made the acquisition, experiences that the sale is valued at $300 million and can conclude this fall.
- Sq. Enix introduced blockchain plans in January.
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Sq. Enix mentioned in a press launch immediately that it’s promoting a number of of its IPs and recreation studios to be able to give attention to blockchain.
Sale Quantities to $300 Million
Sq. Enix is placing money in its coffers to develop new blockchain tasks, in accordance with a press launch immediately.
Sq. Enix will promote three subsidiaries together with Crystal Dynamics, Eidos-Montréal, and Sq. Enix Montréal. It can additionally unload greater than 50 recreation properties together with Tomb Raider, Deus Ex, Thief, and Legacy of Kain.
The properties can be acquired by Embracer Group, which reports the sale is valued at $300 million. Although the sale settlement concluded immediately, the sale itself is anticipated to shut between July and September.
In keeping with Square Enix, the cash earned from the sale will permit it to “launch new companies by transferring ahead with investments together with blockchain, AI, and the cloud. It additionally mentioned that the sale will permit it to enhance the connection between its Tokyo and abroad divisions, with the aim of “maximizing… worldwide income” from future recreation launches.
Sq. Enix will retain a number of of its hottest manufacturers, together with Just Trigger, Outriders, Life is Unusual, and Closing Fantasy.
Sq. Enix’s Blockchain Forays
Sq. Enix initially introduced its blockchain plans this January.
The corporate’s president, Yosuke Matsuda, known as 2021 “yr one” for non-fungible tokens and mentioned that the corporate had created a medium-term technique for blockchain and NFTs.
In April, Matsuda gave a separate interview that detailed the corporate’s plans. In that interview, he urged that blockchain know-how might be used to incentivize the creation of user-generated content material and “autonomous recreation content material.”
Sq. Enix has been concerned in blockchain even previous to these bulletins. In 2020, it created NFTs for its Million Arthur franchise. It additionally invested $2 million in Animoca Manufacturers, the corporate behind the blockchain recreation The Sandbox, that yr.
It’s unclear exactly how immediately’s sale will permit Sq. Enix to grow to be additional concerned in blockchain, however these earlier developments present some concept of the place the corporate’s focus lies.
Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and different cryptocurrencies.
