In May of this year, Square Enix announced a deal with Embracer Group to sell studios such as Crystal Dynamics, Eidos Montreal and Square Enix Montreal, as well as more than 50 IPs, for $300 million. Square Enix chairman Yosuke Matsuda explained at the financial results briefing that the money obtained will not be used in NFT or blockchain technologies.
Matsuda added: “We will not use the revenues we generate from the studios and IPs we sell in new investment areas such as NFT and blockchain. Instead, we’ll first generate robust new IPs. In this context, we will provide more support to our studios and employees.
Our intention is to turn this into an advantage, rather than turning completely into new areas of investment. Accordingly, we will focus on creating new games that align with our strategy. The Just Cause franchise will remain our IP. We will continue to make new games for the series.
In addition to creating new games, we will also try to strengthen our publishing side.”
In May of this year, Embracer Group announced that it had acquired Crystal Dynamics, Eidos Montreal and Square Enix Montreal studios from Square Enix. This sale includes the rights to more than 50 games such as Tomb Raider, Deus Ex, Thief, Legacy of Kain.
