Square Enix Sells Multiple Studios and Ip for $300 Million to Develop Blockchain Games

Japanese game company Square Enix announced that it will sell Crystal Dynamics, Eidos-Montréal and Square Enix Montréal studios to Embracer Group for $300 million, as well as Tomb Raider, Deus Ex, Thief and more A major gaming IP, the sale will include approximately 1,100 employees spread across three studios and eight global locations.

Square Enix attributed the sale to the need to adapt to the changing global business environment by establishing a more efficient allocation of resources, a move that will help it pivot to blockchain-based gaming, and specifically called for the launch of new businesses, For example, leveraging technologies such as blockchain, artificial intelligence and cloud computing.