Square Enix has sold popular titles such as Tomb Raider to invest in blockchain and NFTs

Square Enix, a Japanese game company with many popular titles such as the Final Fantasy series and Dragon Quest series, has sold some game studios along with IPs such as the Tomb Raider series and Deus Ex series, which are popular overseas. The sale is described as accelerating investment in blockchain and NFTs.

NFT Market Crashes As Square Deals Tomb Raider For Blockchain
https://kotaku.com/nft-market-collapse-square-enix-ubisoft-sega-konami-sca-1848878945

On May 2, 2022, the Swedish game company Embracer Group has three game studios owned by Square Enix, ' Crystal Dynamics ,' ' Eidos-Montréal ,' 'Square Enix Montréal,' and the Tomb Raider series and Deus. Announced that it has signed an agreement to acquire more than 50 IP contents such as Ex series, Thief series and Legacy of Kain series. With a total acquisition price of $ 300 million, Embracer Group will welcome approximately 1,100 employees working in three game studios and eight locations.

Embracer Group enters into an agreement to acquire Eidos, Crystal Dynamics, and Square Enix Montréal amongst other assets --Embracer
https://embracer.com/release/embracer-group-enters-into-an-agreement-to-acquire-eidos-crystal-dynamics-and-square-enix-montreal-amongst-other-assets/

Execution of Share Transfer Agreement with Change to Subsidiaries (Divestiture of Select Overseas Studios & IP)
(PDF file) https://www.hd.square-enix.com/eng/news/pdf/20220502%20A_Press%20Release_fin.pdf

Square Enix said the reason for selling some game studios and IPs is 'This transaction is to drive business startup by investing in areas such as blockchain, AI and cloud.' It explains.

In addition, Square Enix President Yosuke Matsuda said in his impressions at the beginning of the year announced on January 1, 2022, 'The appearance of NFT utilizing blockchain technology has greatly increased the liquidity of digital goods transactions. Various digital goods were traded at high prices and attracted a lot of attention all over the world. '' In our medium-term business strategy announced in May last year, we focused on AI, cloud, and blockchain games as challenges to new areas. We have defined it as an investment field and have been actively researching, developing and investing, 'he said, revealing that he is paying attention to NFT and blockchain.

Square Enix president says he has great expectations for NFT and blockchain-based games-GIGAZINE

Overseas game media Kotaku quoted the Wall Street Journal as saying that NFT market sales peaked in September 2021 and fell 92% in April 2022 compared to September. indicate. 'Many of the idiots encouraging investment in NFTs are those in expensive suits in conference rooms, desperately trying to profit before the illusion disappears, as in Web 3.0. I am. ' According to the Wall Street Journal, the NFT market not only has a 92% decrease in sales from its peak, but also has an 88% decrease in the number of active wallets compared to November 2021. There seems to be.

In addition, Kotaku said, 'Unfortunately for us gamers, many game companies are betting on NFTs. Not only Square Enix, but also game-related companies such as Ubisoft, Sega, Team17, Atari, Konami, and GameStop. They have a strong interest in blockchain and NFT, or have already taken steps, 'he said, questioning the current state of interest in NFT and blockchain by many gaming companies.