Square Enix, the Japanese video game firm behind popular franchises like Final Fantasy, Kingdom Hearts, and Dragon Quest, agreed to sell part of its intellectual property and studios on Monday in order to fund new blockchain, AI, and cloud projects.
Embracer, a Swedish gaming company, is paying $300 million to Square Enix for two North American studios, Crystal Dynamics and Eidos Interactive, as well as popular game franchises such as Tomb Raider, Deus Ex, Thief, and Legacy of Kain.
Square Enix’s interest in blockchain gaming is expanding, as evidenced by this action. Yosuke Matsuda, the company’s president, stated at the start of 2022 that the company aimed to invest further in blockchain technology during the year.
Square Enix initially entered the NFT market in March 2021, when it partnered with Double Jump Tokyo, a Japanese blockchain gaming tech company, to create digital assets for the video game franchise Million Arthur.