Japanese Game Developer Square Enix Is Selling Gaming Library, IP To Explore Blockchain And AI

In a move towards blockchain, Square Enix, a Japanese game developer, is putting on sale an important part of its games library and IP.

The Sweden-based Embracer Group purchased a $300 million package that includes Iconic IPs such as Tomb Raider, Deus Ex, and Thief

In May 2021, Square Enix announced a business optimization strategy that proposed the need for developing new IP titles in addition to supporting its major Japanese titles such as Final Fantasy and Kingdom Hearts.

Though there was no mention of a move toward blockchain in the strategy, the medium-term strategy has been revised by Square Enix in its financial results briefing in order to add the statement: “contemplating a robust entry into blockchain games.”

In a statement following the sale of its western IP, Square Enix said: The transaction will allow the launch of new businesses by progressing towards investments in fields such as AI, the cloud, and blockchain.

With the direct mention of blockchain in the press release, the plans to move into blockchain games might have been converted into a planned actionable strategy. More details regarding the blockchain strategy can be seen in the November briefing deck.

The company’s devotion to exploring the blockchain space was indicated by the launch of the Shi‐San‐Sei Million Arthur NFT trading cards.

The gaming industry has shown quite a resistance to the blockchain use in games and Kotaku, a leading gaming news site, has a different perspective on it. Kotaku’s John Walker says firms are auctioning off a line of code as a blockchain for reshaping the notion of digital asset ownership, “as the next big investment you should get in on now while the going is good.”

According to Walker, blockchain technology is a scam-fest that is web 3.0.

However, it’s not surprising to see such resistance from the gaming industry. But a primary gaming developer putting on sale critical IP to move forward towards blockchain is definitely a milestone for the future of blockchain gaming.

Now, even if more IPs Square Enix references will be launched as the latest blockchain gaming projects are not clear, it is however confirmed that an important games developer is now innovating in blockchain technology.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing