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The gaming giant Square Enix sells large franchise companies to finance blockchain initiatives
Square Enix will lead money from the sale of large gaming franchises to continue to invest in blockchain-based games. The company has been playing a role in the blockchain gaming sector since 2018 and, after a successful NFT Proof-of-Concept, is now entering a "full commercialization phase". US dollars sold, which is bound to the large franchise "Tomb Raider" and "Deus Ex"-in addition to a number of its foreign studios-in favor of financing his blockchain initiatives. The Swedish game manufacturer Embracer Group, formerly THQ Nordic from/Nordic Games, scored the treasure trove of assets, including entire subsidiaries Eidos and Crystal Studios ...
The gaming giant Square Enix sells large franchise companies to finance blockchain initiatives
- Square Enix will guide money from the sale of large gaming franchises to continue investing in blockchain-based games
- The company has been playing a role in the blockchain gaming sector since 2018 and now comes into a "complete commercialization phase" after a successful NFT Proof-of-Concept
The Japanese Gaming-Riese Square Enix has sold intellectual property worth $ 300 million, which is bound to the large franchises "Tomb Raider" and "Deus Ex"-in addition to a number of its foreign studios-in favor of financing his blockchain initiatives.
The Swedish game manufacturer Embracer Group, formerly ThQ Nordic from/Nordic Games, drawn the treasure trove of assets, including entire subsidiaries Eidos and Crystal Studios as well as more than 50 titles, including "Thief".
The two subsidiaries generated total sales of $ 170 million in the financial year, which ended in March 2021-an increase of 21 %-which corresponds to a profit of $ 3.85 million, according to the press release from Square Enix on Monday
The Embracer Group is known for your takeovers. It is website has control over 850 franchise companies in 119 studios, with the popular titles "Borderlands" and "Saints Row" under his wide roof. The company disclosed a fortune of $ 3.4 billion in March 2021, and its market value is currently $ 7.46 billion.
Square Enix expressed the desire to reconcile its overseas business areas with its offers from Tokyo, "with the aim of maximizing the worldwide income from future titles that are introduced by the group of the group in Japan and abroad."
The company, headquartered in Shinjuku, was vague in terms of blockchain and only explained that the deal enables "establishing new companies by driving investments in areas such as Blockchain, KI and the Cloud".
Square Enix plans a "complete commercialization phase", which is supported by NFTS
Square Enix, in shareholders four years ago, expressed his intention to open up the potential advantages of the blockchain. In May 2018, it would invest "aggressive" to use the technology.
In his New Year's address in 2019, President Yosuke Matsuda noted Non-KryptoGeblockchain applications from crypto-mania the year earlier.
Matsuda referred to NFTS, long ahead of the recent popularity pushing in connection with cryptopunks and bored apes. Cryptokitties was the first NFT project (non-fungable token) at the time.
