Square Enix sold popular gaming titles for the development of projects on the blockchain – Bits Media

Japanese video game developer Square Enix has sold the studio to Crystal Dynamics, Eidos-Montreal и Square Enix Montreal, as well as rights to Tomb Rider game titles, Deus Ex, Thief и Legacy of Kain.

Studios and rights to game titles were sold to the Swedish company Embracer Group. The transaction amount was $300 million. As reported in press release, the funds are planned to be used for the development of projects in the field of blockchain and NFT.

“This deal will allow us to launch new business areas, including investments in such areas, Like a blockchain, artificial intelligence and cloud computing", – emphasized in the press release.

Square Enix representatives noted, that the company needs to “adapt to changes in the global business ecosystem” and strive to allocate resources more efficiently.

Square Enix retains the rights to such game series, as Just Cause, Dragon Quest и Final Fantasy, but, most likely, the company will significantly reduce the number of games developed and released.

Embracer Group was previously known as Nordic Games and THQ Nordic. The company continues to buy game studios and rights to game series. So, Previously, Embracer Group bought out the developers of Borderlands.

Note, that not all game studios welcome NFTs and blockchain. So, most recently Mojang Studios, behind the popular sandbox game Minecraft, called on game developers to study the risks of NFTs, before implementing them into your products.