Square Enix Has Closed $300 Million Sale for Bankroll Blockchain Pivot

Square Enix, a video game producer and publisher company based in Japan, which has been known to all gamers for many years and has a large market share, has sold its western studios and some Western intellectual properties (IPs) to the Embracer Group. This sale, worth $300 million, will cause the company to focus more on blockchain, artificial intelligence (AI), cloud and further development in these branches.

Square Enix Is Trying to Fund Its Projects

Anyone who is good or not good with games has somehow heard or knows what a big and established game production company Square Enix is. However, no matter how big you are, sometimes you may find it difficult to finance your new or ongoing projects. Square Enix also seems to be selling some of its major projects to fund their projects.

This $300 million deal includes not only IPs, but also western studios that produced major titles such as Final Fantasy, Dragon Quest and Kingdom Hearts, and even studios such as Crystal Dynamics and Eidos, producers of a game that left its mark on the game world like Tomb Raider.

With such large-scale sales, the company aims to catch global innovations and changes such as blockchain, artificial intelligence (AI) and cloud technologies.

The company said the following about the purpose of this sale at a press conference;

The Transaction will assist the Company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain.

So What Is the Purpose of Blockchain Pivot?

With this sales move, Square Enix CEO and President Yosuke Matsuda aims to adapt to blockchain technology, which is an important part of the company’s future in the medium term, which he mentioned before. He explained that he is considering integrating blockchain into video games and that he is very interested in this subject.

Matsuda also encouraged game modders to adopt blockchain technology, saying that they can produce more original and more unique content. In addition to a company like Ubisoft that is trying to adapt and innovate on blockchain, Square Enix has also been one of the companies that approach blockchain technology most moderately, as a company that has already included NFT objects in some of its games.

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