“Tomb Raider” sold to finance a Blockchain investment!

Square Enix Holdings, which is a “Japanese entertainment conglomerate and video game company” very successful (perhaps best known for his “Final Fantasy” video game franchise), would be interested in blockchain technology.

According to a CNBC report, Square Enix is ​​selling the iconic “Tomb Raider” franchise to Sweden’s Embracer in a $300 million deal, which the Japanese video game publisher says will cut costs and to provide capital for new investments.

Tomb Raider (aka “Lara Croft: Tomb Raider” between 2001 and 2008) is “a media franchise born out of an action-adventure video game series created by British game company Core Design“. Franchise “centers on fictional British archaeologist Lara Croft, who travels the world in search of lost artifacts and infiltrates dangerous tombs and ruins.“His Gameplay”generally focuses on exploring environments, solving puzzles, navigating hostile environments filled with traps, and battling enemies.“The Tomb Raider games have “sold over 88 million copies worldwide in 2022.

Embracer Group is “a parent company of entrepreneur-led businesses in PC, console, mobile and board games and other related media.” She owns “an extensive catalog of over 850 owned or controlled franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands among many ‘others.

On May 2, Embracer Group issued a press release announcing that it had reached an agreement with Square Enix to “acquire development studios Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and a catalog of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalog games“.

According to the CNBC article, Square Enix needs to cut costs amid a tough global business environment, and noted its intention to invest in new technologies, such as blockchain.

Some fans criticized Square’s decision to sue the blockchain, echoing a general skepticism among gamers towards crypto and NFT monetization.

Piers Harding-Rolls, head of games research at Ampere Analytics, said Square Enix had sought to shed some of its business in order to restructure and focus on investments.

He pursues ,

[Square Enix] has struggled to achieve consistent commercial success from these studios, and wants to build a leaner organization with a more compelling growth and profit story for its shareholders.

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