Square Enix sold subsidiary studios to invest in blockchain technologies

The company made $300 million on the sale of Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal

03.05.2022 - 11:05

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What’s new? Square Enix, a Japanese developer company, has sold its subsidiary studios to invest in “blockchain, AI, and the cloud.” According to a company report, the sale of Crystal Dynamics, responsible for developing the Tomb Raider game series, as well as two other studios, Eidos-Montréal and Square Enix Montréal, brought in $300 million.

Square Enix’s report

What happened before? In early 2022, Square Enix President Yosuke Matsuda announced his plans for development in the field of blockchain, NFT, and the Metaverse. The decentralized blockchain games would be a “major strategic theme” for Square Enix in 2022. Matsuda noted that blockchain gaming stimulated the users’ interest as well as rewarded them for creating content.

In March 2022, the developers of The Sandbox reported collaboration with the Japanese publisher. Square Enix plans to bring its old RPG Dungeon Siege into the metaverse.

It also became known that the Ultima series games’ creator Richard Garriott was working on a new NFT-enabled MMO. According to the developer, players would have a high degree of control over what is available on their plots of land.

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