The English translation from Square Enix’s latest quarterly financial report on May 13 has come out today, bringing some interesting insights into the happenings of the developer and publisher. It also mentions Square Enix’s interest in NFTs and how it plans to approach them. One very interesting part of the report was concerned with Square Enix’s selling of subsidiaries like Crystal Dynamics, Eidos Montreal, and their IPs to Embracer Group. The deal included some of Square Enix’s biggest western franchises like Tomb Raider and Deus Ex. 

However, many of the recent titles of those studios, such as Marvel’s Avengers, Sleeping Dogs, and Marvel’s Guardians of the Galaxy, were unable to meet sales expectations, which may have motivated the sale. Now, Square Enix’s financial report has detailed exactly what they aim to use the $300 million from the sale for and fans will likely be relieved to know that Square Enix has no plans on using it to invest in controversial NFTs or Blockchain technology. 

Instead, the report detailed how they plan on using the money to solidify their IP offerings and bolster their core development. This includes creating entirely new IP as well as possibly creating new studios to aid in developing new titles as well as restructuring their publishing structure to help increase its efficiency. 

Despite this, the report also mentioned that this does not mean the company is not interested in NFTs or Blockchain developments. In fact, it detailed the investments that Square Enix hopes to make in those domains, but says they plan on seeking new investments in the company to do so. It is great to hear that Square Enix will be investing heavily in developing new IP and supporting its existing portfolio, but hopefully, its investments in NFTs and Blockchain tech won’t have too big of an impact on them moving into the future. 

Source: Square Enix