The gaming giant Square Enix sells large franchise companies to finance blockchain initiatives

The gaming giant Square Enix sells large franchise companies to finance blockchain initiatives

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.

Two and a half years later, in November 2021, Square Enix Detailed called.

The company had just launched a number of digital NFT cards under the name "Shi-San-Sei Million Arthur". brand in partnership with the third-party NFT Studio Double Jump.tokyo. The NFTS that are used on the line blockchain drove a free digital card game, the "Magic: The Gathering" and "Hearthstone".

"In addition to the type of content creation, which we have traditionally dealt with, we will concentrate on blockchain games that are based on token economies as a form of decentralized content," said Square Enix at the time.

Square Enix expressed the desire to make blockchain a pillar for the company that moves forward by integrating token economies into its games, although second sales of "Shi-San-Sei Million" nfts are not currently supported.

The persistence of Square Enix When expanding his block chain-powered offers, contrast to a series of game studios that have withdrawn the NFT enthusiasm in response to criticism, including "Stalker 2". href = "https://www.polygon.com/22841151/stalker-2-nft-content-canceled-react#:text=%E2%80%80% 9cbassed%20The%20Feedback%20We, tokens%20For%20Shooter%2Frpg. "> GSC game world , Team17 and "FIFA" Rel = "NOFOLLOW NOOPENER" TARGET = "_ blank" https://kotaku.com/nfts-fifa-madden-apex-legends-scam-loot-box-1848467337 "> Electronic Arts .

Managers from Nintendo , take two and ubisoft (among other things) have expressed their hope of the future of NFTS in the gaming-which indicates that crypto-native studios could have a hard competition in the future. The latter, however, first "> In NFT gaming there was a resounding flop.