While the Wall Street Journal publishes an alarming report on the general loss of interest in NFTs , the famous video game publisher Square Enix is ​​separating from a large part of its franchises to invest in blockchain technologies.

Square Enix is ​​selling a majority of its titles for $300 million

Square Enix is ​​a famous Japanese company that develops and publishes video games. Among its most famous titles are Final Fantasy, Dragon Quest and Tomb Raider.

The video game developer recently put some of its most popular Western intellectual properties up for sale to get into blockchain-based games. The Swedish group Embracer was thus able to acquire a $300 million package consisting of the Tomb Raiser, Deus Ex and Thief franchises, among others.

In a statement following the sale, Square Enix said:

The transaction helps launch new businesses by advancing investments in areas such as blockchain, AI and cloud.

A strategy oriented towards NFTs and the blockchain

In May 2021, Square Enix had announced an optimization of its development strategy . This suggested a desire to develop new titles while continuing to support its flagship Japanese franchises such as Final Fantsay and Kingdom Hearts. At the time, this strategy did not appear to include a move towards blockchain technologies.

Finally, the company reviewed its medium-term development strategy during a recent presentation on its financial results, informing that it was “considering a massive entry into blockchain games”.

The reflection on a possible entry into this sector quickly turned into a real strategy. In November 2021, Square Enix set up a successful NFT proof of concept , in partnership with developer Double Jump. The company has thus launched a series of NFT in the form of digital cards based on the franchise of video games and anime “Shi San Sei Million Arthur””, or “Fortune Million Arthur”. The will now seems to explore new blockchain-focused initiatives.

In the video game developer sector, the enthusiasm around NFTs and blockchain seems quite mixed. Brands like Ubisoft and Nintendo have expressed some hope around the development of NFT games . However, Ubisoft experienced a real cold shower with its first attempt of its kind last December.

Finally, this announcement does not seem to have had a resounding effect on the market . Indeed, Square Enix shares remain stable while Embracer gained only 1%. The future will tell if this operation and this new strategy prove profitable for the publisher.

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