- Square Enix will raise money from the sale of major game franchises and invest more in blockchain-powered games
- The company has been playing a role in the blockchain gaming sector since 2018 and is now in the “complete commercialization phase” after a successful proof of concept for NFTs.
Japanese game giant Square Enix has sold $ 300 million worth of intellectual property associated with its major franchises, Tomb Raider and Deus Ex, in support of funding the blockchain initiative.
Swedish game maker Embracer Group (formerly THQ Nordic AB / Nordic Games) has scooped up a pile of assets such as: Over 50 titles, including subsidiaries Eidos and Crystal Studios, as well as “Thief”.
According to Square Enix’s Monday press release, the two subsidiaries generated a total revenue of $ 170 million in the fiscal year ending March 2021 and increased by 21%. That’s a profit of $ 3.85 million.
Embracer Group is well known for its acquisitions.this is Website He manages more than 850 franchises in 119 studios and has the popular titles “Borderlands” and “Saints Row” under its broad umbrella. As of March 2021, it disclosed $ 3.4 billion in assets and its current market value is $ 7.46 billion.
Square Enix has expressed its intention to link its overseas business with businesses other than Tokyo, “with the goal of maximizing the global profits generated from future titles launched by domestic and overseas group studios.” bottom.
However, the Shinjuku-based company is vague about blockchain, saying, “By investing in fields such as blockchain, AI, and cloud, we will be able to launch new businesses.”
Square Enix is planning a “complete commercialization phase” utilizing NFT
Square Enix has stated its intention to harness the potential benefits of blockchain in a shareholder letter dating back four years. State In May 2018, we plan to invest “aggressively” to take advantage of the technology.
President Yosuke Matsuda at the 2019 New Year greetings I got it The non-cryptocurrency blockchain application was launched from crypto enthusiasts the previous year.
Matsuda mentioned NFTs long before the recent surge in popularity associated with CryptoPunks and Bored Apes. CryptoKitties was a premier NFT (non-fungible token) project at the time.
Two and a half years later, in November 2021, Square Enix detail What we called a successful blockchain proof of concept.
The company has just launched a series of NFT digital cards under “Diffusive Million Arthur”. brand We are affiliated with a third party NFT studio doublejump.tokyo. Deployed on the LINE blockchain, NFT has enhanced its free digital card games that reflect “Magic: The Gathering” and “Hearthstone.”
Square Enix said, “In addition to the content production that we have been working on so far, we will focus on blockchain games that assume the token economy as distributed content.”
Square Enix has announced its intention to make blockchain a pillar of the company by integrating the token economy into the game, although there is a secondary sale of “Diffusive Million Arthur”. NFT not Currently supported.
The latest “Diffusive Million Arthur” According to a note on the game’s website, Mint has increased the total number of NFTs distributed to 3,376. It’s not clear how much income you’ve earned.
Square Enix’s continued expansion of blockchain-based services is in stark contrast to many game studios, such as “STALKER 2,” which have retreated NFT’s enthusiasm in response to criticism. Developer GSC Game World, Team17And “FIFA” Creator Electronic Arts..
Executives from Nintendo, Take 2 However, Ubisoft (especially) has expressed expectations for the future of NFTs in gaming, indicating that crypto-native studios may be in fierce competition in the future.However, the latter is the first Advance Participation in NFT games was an overwhelming flop.
In any case, the market reaction to the transactions between Square Enix and Embracer Group was sluggish. Square Enix shares are trading evenly and embracers are up 1%, suggesting that both companies will benefit.
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