Square Enix to invest a portion of the $300 million IP rights sale proceeds in blockchain initiatives

Japan’s Square Enix, renowned for Final Fantasy and other video games, has agreed with competitor Embracer to sell the intellectual property rights for $300 million. The proceeds will fund initiatives in blockchain, AI and cloud technologies.

SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.

Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk

— Square Enix (@SquareEnix) May 2, 2022

The deal includes Square Enix’s North American studios Crystal Dynamics and Eidos Interactive, as well as rights to popular game franchises Tomb Raider, Deus Ex, Thief, Legacy of Kain and others.

In March 2021, Square Enix agreed to partner in the NFT space with the startup Double Jump Tokyo. The latter is known for creating digital assets for the Million Arthur franchise.

DJT and Square Enix announced that we will collaborate on NFT content.
There are comments from each companies, so please read on.
We aim to expand the industry with #NFT utilizing Japanese IP!#DJT #SQEXhttps://t.co/CYkgrfc1ZC

— doublejump.tokyo Inc. (@doublejump_en) March 17, 2021

Newzoo analysts previously forecast that P2E models in games would become more widespread as developers seek to diversify revenue streams.

According to DappRadar, in January $1 billion was invested in GameFi infrastructure and blockchain games—a quarter of the total for 2021.

As noted in April 2022, Square Enix President Yosuke Matsuda stated the company’s interest in blockchain and NFT.

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