Japanese game developer Square Enix announced today they are selling their gaming library to focus on blockchain and AI projects. The company is looking to exit its business as a traditional games publisher after decades of success in the industry.
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Square Enix has recently sold its gaming library to focus on blockchain and AI. Square Enix is now a company that focuses on cryptocurrency.
In a move toward blockchain, Square Enix is selling a large portion of their game catalog and intellectual property.
Tomb Raider, Deus Ex, and Thief are among the iconic IPs included in a $300 million package bought by Sweden’s Embracer Group.
In May 2021, Square Enix revealed a business optimization plan, indicating the necessity to create new IP games in addition to sustaining its popular Japanese titles like as Final Fantasy and Kingdom Hearts.
The shift to blockchain was not mentioned in the strategy presentation. In its financial results conference, Square Enix changed its medium-term plan to include “considering a substantial entrance into blockchain gaming.”
Square Enix announced in a statement after the sale of its western IP:
“By pushing ahead with investments in domains like as blockchain, AI, and the cloud, the deal facilitates the establishment of new enterprises.”
With the inclusion of blockchain in the press release, the possibility of a move into blockchain gaming may have evolved into a viable strategy. The November briefing slide offers a more extensive look at their blockchain plan.
The ShiSanSei Million Arthur NFT trading cards will be released in October 2021, demonstrating the company’s dedication to blockchain innovation.
Briefing from SquareEnix
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The gaming industry has been famously averse to the use of blockchain in games, and Kotaku, the leading gaming news site, is no exception. According to Kotaku’s John Walker:
“Businesses are selling a line of code on a blockchain to repackage the old concept of digital asset ownership as the next great investment you should get in on while the going is good.”
Blockchain technology, according to Walker, is “the web 3.0 scam-fest.”
The gaming industry’s degree of criticism is nothing new. However, a major gaming company selling vital IP to concentrate on blockchain is unquestionably a watershed moment for blockchain gaming.
It’s unclear if the additional IPs Square Enix mentions will result in new blockchain gaming ventures, but it’s evident that a major game company is now quite enthusiastic about blockchain.
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