In a move towards blockchain, Square Enix, a Japanese game developer, is putting a significant portion of its game and IP library on sale.
Sweden-based Embracer Group has bought a $300 million package that includes iconic IPs such as Tomb Raider, Deus Ex and Thief
In May 2021, Square Enix announced a Business Optimization Strategy which proposed the need to develop new IP titles in addition to supporting its core Japanese titles such as Final Fantasy and Kingdom Hearts.
Although there is no mention of a move to blockchain in the strategy, the mid-term strategy was revised by Square Enix in its financial results briefing to add the statement: “considering an entry robust in blockchain games”.
In a statement following the sale of its Western IP, Square Enix said: The transaction will enable the launch of new businesses by progressing investments in areas such as AI, cloud and blockchain.
With the direct mention of blockchain in the press release, the plans to switch to blockchain games could have been converted into a planned and achievable strategy. More details regarding the blockchain strategy can be seen in the November briefing deck.
The company’s devotion to exploring the blockchain space was indicated by the launch of the Shi‐San‐Sei Million Arthur NFT Trading Cards.
The gaming industry has shown some resistance to the use of blockchain in games and Kotaku, one of the leading gaming news sites, has a different perspective on this. Kotaku’s John Walker says companies are auctioning off a line of code as blockchain to reshape the notion of digital asset ownership, “like the next big investment you should be getting into now while things are going well.”
According to Walker, blockchain technology is a scam that is Web 3.0.
However, it is not surprising to see such resistance from the gaming industry. But a core game developer putting up a critical IP address for sale to move towards blockchain is definitely an important step for the future. blockchain game.
Now, even though more Square Enix IP benchmarks will be launched as the latest blockchain game projects are unclear, but it is confirmed that a major game developer is now innovating in blockchain technology.
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