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Japanese Based 'Square Enix' Sells Tomb Raider To Invest In Blockchain-Based Tech
Square Enix sold the Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal studios to the Embracer Group. The company earned $300 million from the sale. It will use the sale to enable the launch of new businesses, including those related to blockchain tech, AI, and the cloud.
Ankita K.
6:44 3rd May, 2022
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Japanese video game company Square Enix has sold several of its game development companies, including Crystal Dynamics, which develops Tomb Raider. The company has done so to invest more into new tech, including blockchain technology.

Japanese video game company Square Enix has sold many of its game development companies, including Crystal Dynamics, which developed Tomb Raider, to invest more in technologies — including blockchain. Square Enix announced on May 2, saying that it had sold its Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal studios which were responsible for many of its famed IPs. The companies were sold to the Embrace Group for $300 million.

Square Enix has been known to be very keen on blockchain tech. The announcement said that the sale of the companies would “enable the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”

The company announced a partnership with double jump.Tokyo focusing on creating NFT content. This was done over a year ago, but there haven’t been any updates since.

The response from the gaming community has been one of disappointment and criticism. Many do not see blockchain tech as being applicable in video games.

Tomb Raider is one of the most well-known franchises in the gaming industry. It has spawned movies and is something of a hallmark in the industry. And with the way video game companies are growing increasingly interested in new tech, it may be the case that other well-known games consider the use of NFTs.

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