Square Enix, Game Development Company will invest in Blockchain?

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The iconic Tomb Raider video game franchise is being sold by its publisher square Enix. From the agreement of USD 300 million or around IDR 4.6 trillion

Square Enix said they would release their three game development studios namely Eidos Interactive, Crystal Dynamics, and Square Enix Montreal to the Swedish company Embracer Group.

Embracer will also acquire the intellectual property for Tomb Raider and three other game series, including Deux Ex, Thief and Legacy of Kain.

Square Enix also said it is selling assets to reduce costs amid a very challenging global business environment, while it is also investing in new technologies such as Blockchain.

"The deal enables the launch of new businesses by moving forward with investments in areas including blockchain, AI, and cloud," Square Enix said in a statement quoted from CNBC, on Friday (17/3/2023).

The company's commitment to increased spending on blockchain, the technology behind many cryptocurrencies, and NFTs caused some backlash on social media.

"Like selling your house for magic beans," a gamer/netizen commented on social media.

Many gamers are skeptical about NFTs or these digital assets, which are designed to represent ownership of unique collectibles.

Supporters of the technology say it could pave the way for a new kind of gaming experience. But many gamers are not convinced, seeing NFTs as a very dangerous money grab.

Tomb Raider is one of the most famous video game franchises of all time. The game provides gamers with an exciting gaming experience to navigate British archaeologist Lara Croft through a series of ancient tombs and dangerous ruins. To date, the Tomb Raider franchise has sold around 88 million copies.

Square Enix, famous for its popular Final Fantasy, Dragon Quest, and Kingdom Hearts games, gained ownership of the Tomb Raider series after purchasing Eidos Interactive in 2009.

Gaming research expert at Ampere Analysis, Piers Harding-Rolls said the deal price for Square Enix's Tomb Raider is very low, but the company has been looking for a buyer for a long time.

"It has struggled to get consistent commercial success from those studios, and is looking to build a leaner organization with a more compelling growth and profit story for its shareholders," (Harding-Rolls).

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