Square Enix sells gaming library to focus on blockchain and AI

Square Enix sells gaming library to focus on blockchain and AI thumbnail


Japan’s recreation developer Square Enix has offered a part of its iconic IPs in a bid to leap into blockchain-based gaming.

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Updated: May 7, 2022 at 4:55 pm

Square Enix sells gaming library to focus on blockchain and AI

Cover artwork/illustration by way of CryptoSlate

Japanese recreation developer Square Enix is promoting a big a part of its video games library and IP in a pivot in direction of blockchain.

Iconic IPs like Tomb Raider, Deus Ex, and Thief are included in a $300 million package deal bought by the Sweden-based Embracer Group.

Square Enix introduced a enterprise optimization technique in May 2021, which urged the necessity to develop new IP titles alongside supporting its main Japanese titles like Final Fantasy and Kingdom Hearts.

The technique didn’t point out the transfer towards blockchain within the presentation. However, Square Enix revised the medium-term technique in its monetary outcomes briefing to incorporate “contemplating a robust entry into blockchain games.”

In a press release following the sale of its western IP, Square Enix stated:

“The transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”

The contemplation of a transfer into blockchain video games could have transitioned into an actionable technique with the direct point out of blockchain within the press launch. A extra detailed look into their blockchain technique might be seen within the November briefing deck.

The launch of the Shi‐San‐Sei Million Arthur NFT buying and selling playing cards in October 2021 illustrates the corporate’s dedication to innovating within the blockchain house.

square enix nft
Source: SquareEnix Briefing

The gaming trade has been notoriously proof against using blockchain in video games and the highest gaming information web site, Kotaku, sees this transfer no otherwise. John Walker from Kotaku stated:

“Companies are selling a line of code on what they call a blockchain to repackage the ancient idea of digital asset ownership as the next big investment you should get in on now while the going is good.”

Walker describes blockchain expertise as “the scam-fest that is web 3.0.”

This stage of opposition from the gaming trade is nothing new. However, a main gaming developer promoting important IP to concentrate on blockchain is undoubtedly a giant second for the way forward for blockchain gaming.

Whether the additional IPs Square Enix references will come within the type of new blockchain gaming initiatives continues to be unknown, however it’s clear {that a} vital video games developer is now extremely bullish on blockchain.

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