Square Enix Offloads Tomb Raider to Fund Blockchain Initiatives

Square Enix has announced that they will be offloading their Tomb Raider to Ascendant Pictures, which is now in charge of the film franchise. The move comes as Square Enix plans on using funds from this deal to invest into blockchain initiatives.

Square Enix has decided to offload their Tomb Raider franchise in order to focus on blockchain initiatives. The game will be the first title that Square Enix will release with a blockchain-based economy. Read more in detail here: blockchain bitcoin.

Square Enix, a Japanese entertainment corporation, has announced that it would use some of its most popular titles to support its blockchain venture. As a consequence, Embracer Group AB of Sweden has received a Tomb Raider-shaped baton.

Square Enix will hand up ownership of companies Crystal Dynamics and Eidos Interactive in a $300 million agreement. As a consequence, Embracer will be home to beloved brands including Tomb Raider, Deus Ex, Thief, and Legacy of Kain. They’ll continue to wow fans with their fast-paced gameplay and dubious archaeology.

Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP are acquired by SQUARE ENIX HOLDINGS CO., LTD. via an arrangement with Embracer Group.

https://t.co/ooOYacp4PW press release pic.twitter.com/2PmQE967gk

May 2, 2022 — Square Enix (@SquareEnix)

Square Enix declared in a public statement that the monies obtained will be used to further its blockchain initiatives. In addition, it will continue its foray into augmented reality and cloud technologies. As a result, an entire world of interconnected ecosystems that blur the borders between realities opens up.

As Square Enix aims to grow into a new domain of entertainment, all of this points to a steady march into the world of cutting-edge technology. The venerable gaming company has been experimenting with NFTs and laying out its intentions for a blockchain-enabled future over the past six months. So keep a watch on Square Enix as it continues to develop and explore.


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