We have just learned that Square Enix Montreal, Eidos-Montreal and Crystal Dynamics, three Square Enix studios have been acquired by the Embracer group for the modest sum of $300 million. A monumental transaction for the industry, which says a lot about the company’s ambitions for the future years, which would now like to turn to blockchain.
What is Blockchain? It is “quite simply” a database and transmission of information with the main advantage of not depending on any central body and of being totally virtual. You have surely already heard of this famous blockchain because it is mainly used for the transfer of cryptocurrencies such as Bitcoin or Ethereum and is therefore intimately linked to NFTs.
Square Enix projects
Shortly after the takeover of the three Square Enix studios by the giant Embracer, a document attesting to the transfer was published by the teams of the Japanese company. In this press release it is possible to observe a part called “objectives of the transaction”which is aptly named because it details company projects for the short termas a direct result of this transaction.
We can read later that these projects will be implemented in agreement with Square Enix’s mid-term strategywhich the company unveiled in May 2021.
What does this mean for the company?
In an interview for yahoo japan in early April, the president of Square Enix Holdings said that working on traditional games would not be “not enough” for the good development of the company. He went on to describe his vision for future Square Enix games as productions that players can create on and then be rewarded for their work. A system similar to games related to the blockchain, and therefore with NFTs as well as cryptocurrencies.
Square Enix’s enthusiasm for emerging industries as well as NFTs has been more than present in recent months. The year 2022 had started with a letter from the president from the Japanese company saying: “I see 2021 not only as ‘Metaverse: Year 1’, but also as ‘NFTs: Year 1’, given that it’s a year where NFTs have been received with great enthusiasm by a user base in full expansion”. The company also expressed expectation a popularization next on the blockchain and NFTs.
Following the resale of three of its studios, Square Enix now seems to want to turn to the technologies and possibilities offered by the blockchain. Maybe the company is creating its own cryptocurrency, who knows?
Square Enix Montreal, Eidos-Montreal, Crystal Dynamics: here are the three studios of the Square Enix group that will change hands by the end of September. For the modest sum of 300 million dollars, the buyer gets some well-known titles along with around fifty other games.