Japan-based studio Square Enix, known for Final Fantasy and other video games, has agreed to sell its intellectual property rights to rival Embracer for $300 million. The proceeds will be used to fund startups in blockchain, artificial intelligence and cloud technologies.

SQUARE ENIX HOLDINGS CO., LTD. Crystal Dynamics has signed an agreement with Embracer Group for the acquisition of Eidos-Montréal, Square Enix Montréal and IP.

Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk

— Square Enix (@SquareEnix) 2 May 2022

The deal includes rights to the popular Tomb Raider, Deus Ex, Thief, Legacy of Kain and other game franchises, as well as North American studios Crystal Dynamics and Eidos Interactive, owned by Square Enix.

In March 2021, Square Enix entered into an NFT partnership with startup Double Jump Tokyo. The latter is best known for creating digital assets for the Million Arthur series.

DJT and Square Enix announced that we will collaborate on NFT content.
There are reviews from each company, so please keep reading.
We aim to grow the sector with #NFT Using Japanese IP!#djt #SQEXhttps://t.co/CYkgrfc1ZC

— doublejump.tokyo inc. (@doublejump_en) March 17, 2021

Previously, analysts at Newzoo predicted that P2E models in games would become more common due to developers’ desire to diversify their sources of income.

According to DappRadar, $1 billion was invested in infrastructure and blockchain gaming in the GameFi segment in January, a quarter of the total amount for 2021.

Recall that in April 2022, Square Enix President Yosuke Matsuda announced that the company is interested in blockchain and NFT.