Japanese video game developer Square Enix has sold studios Crystal Dynamics, Eidos-Montreal and Square Enix Montreal, as well as the rights to game titles Tomb Rider, Deus Ex, Thief and Legacy of Kain.
Studios and rights to game titles were sold to the Swedish company Embracer Group. The deal amounted to $300 million. reported in a press release, the funds are planned to be used to develop projects in the field of blockchain and NFT.
“This transaction will allow us to launch new lines of business, including investments in areas such as blockchain, artificial intelligence and cloud computing,” the press release emphasizes.
Square Enix representatives noted that the company needs to “adapt to changes in the global business ecosystem” and strive for a more efficient allocation of resources.
Square Enix retained the rights to game series such as Just Cause, Dragon Quest and Final Fantasy, but the company is likely to significantly reduce the number of developed and released games.
Embracer Group was formerly known as Nordic Games and THQ Nordic. The company continues to buy game studios and the rights to game series. So, earlier Embracer Group bought out the developers of Borderlands.
Note that not all game studios welcome NFT and blockchain. For example, Mojang Studios, behind the popular Minecraft sandbox, recently urged game developers to study the risks of NFTs before implementing them into their products.
Source: Bits
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