Research # 10 : Square Enix Sells Tomb Raider to Fund Blockchain Gaming Ambitions
UpOnly | Research #10: Gaming giant raises $300M from IP sales to pivot to blockchain gaming
The past few years have seen several traditional gaming corporations like Konami, Electronic Arts, and Ubisoft embrace blockchain technology. The scope of involvement typically ranges from issuing non-fungible tokens (NFTs) to funding blockchain gaming startups, or announcing blockchain-focused divisions. Amid the increased adoption, Japanese entertainment giant Square Enix is going all in.
In a recent development, the firm sold off some of its intellectual properties, including the established gaming title Tomb Raider. The $300 million netted from the sale would go into the company’s pivot to blockchain gaming.
This week’s edition of UpOnly | Research reviews the company’s recent involvement with blockchain gaming. We also consider why it is only a matter of time before most gaming companies adopt blockchain in one way or another to improve the experience for gamers.