Japanese entertainment conglomerate, Square Enix, has revealed it will cash in on some of its hottest properties to fund its blockchain initiative. As a result, handing a Tomb Raider shaped baton over to Swedish gaming firm, Embracer Group AB.
In a deal worth $300 million, Square Enix will pass over control of subsidiaries Crystal Dynamics and Eidos Interactive. As a result, beloved franchises such as Tomb Raider, Deus Ex, Thief and Legacy of Kain will find a new home at Embracer. Wherein, they will continue to amaze fans with their fast paced gaming and questionable archaeology.
SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.
— Square Enix (@SquareEnix) May 2, 2022
Via a public statement, Square Enix announced that it would use the funds raised to double down on its blockchain plans. As well as push forwards into its expedition into augmented reality and cloud technology. Therefore, opening a door to a whole universe of integrated ecosystems that blur the lines between realities.
All of this highlights a continued march into the world of the latest tech, as Square Enix looks to expand into a new realm of entertainment. Over the last six months, the revered gaming firm has tested the water with NFTs, as well as outlining its plans for a blockchain-enabled future. So, keep eyes on Square Enix as it continues to experiment and innovate.