Japan’s Square Enix sells gaming library to focus on AI & blockchain

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Japanese entertainment and video game company, Square Enix is offloading a substantial part of its IP and games library to focus on blockchain technology. Game titles like Thief, Tomb Raider, and Deus Ex, are now included in a package of $300 million purchased by the Embracer Group, a Sweden-based video game and media holding company.

Last year, Square Enix declared a business optimization strategy, which recommended the need to develop new IP titles along with supporting its major Japanese titles like Kingdom Hearts and Final Fantasy.

However, at the time, the company did not mention its move toward blockchain. Square Enix later revised the strategy for its medium-term in its financial results briefing about including a full entry into blockchain games.

While stating the sale of its western IP, Square Enix said that the transaction empowers the unveiling of new businesses by operating forward with investments in AI, blockchain, and the cloud.

The inspection of a move into the blockchain games may have transformed into an unlawful strategy by direct mentioning the blockchain. Moreover, a detailed look into the blockchain strategy can be witnessed in its briefing deck.

Incidentally, the launch of Shi-San-Sei Million Arthur trading cards in 2021 hints at the firm’s commitment to innovation in the blockchain space.

It goes with saying that the gaming industry has been disreputably resistant to using blockchain in games, and Kotaku, the top gaming news site, believes the same.

John Walker from Kotaku, while commenting on the move, said: that firms are selling a line of code on what is known as a blockchain to repackage the idea of owning digital assets as a big investment one should be getting in on now although the going is good.

Source Credit - https://cryptoslate.com/square-enix-sells-gaming-library-to-focus-on-blockchain-and-ai/