Square Enix Closes $300 Million Sale of Western Studios to Bankroll Blockchain Pivot – News Bitcoin News

Square Enix is a Japanese publishing and gaming company that has recently sold some of its Western IPs to Embracer Group. This deal valued these assets at $300million and will enable the company to invest in new businesses, more in line with the company’s refined direction. It includes AI, blockchain, cloud computing, and AI.

Square Enix Sells Its Assets To Refocus Its Business

Square Enix, a Japanese-based gaming publishing and development company, has announced that part of their assets will be sold to help finance its new blockchain-based operations. Square Enix, creators of Final Fantasy, Kingdom Hearts and Dragon Quest franchises, has sold a portion of its assets to finance new operations that include blockchain-based endeavors.

The sale includes Eidos and Crystal Dynamics studios, as well as more than 50 IPs. The company released a statement stating that the sale was to achieve the following objectives:

The transaction will assist the company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain.

Furthermore, the company explains that this transaction “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.” The deal aims to aid in the management of the company, which will now be comprised almost entirely of Japan-based development studios, retaining some minimal businesses abroad.


Blockchain Pivot

Square Enix president Yosuke Maatsuda stated that this move was made to bring into practice the ideas that he has been promising since last year when Square Enix included blockchain in its midterm plan. An executive stated that the company was interested in using blockchain technology to game and how it might benefit players participating.

Matsuda expressed concern about the relevancy of new technologies by stating that using blockchain tech to encourage modders can lead to more original content. He also suggested the use of token economies within these games. Square Enix is a company that believes in blockchain, the play-toearn model and Square Enix also includes NFT elements within some of its games.

Square Enix’s new direction is what you think. Let us know your thoughts in the comment section.

Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. Sergio is a cryptocurrency journalist based in Venezuela. He says he was late to the party, having entered the cryptosphere during the December 2017 price increase. He is a Venezuelan computer engineer with a background in social engineering and has been influenced by cryptocurrency’s boom on a personal level.

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