Square Enix Decided To Sell Major Franchises To Fund Blockchain Initiatives

Video game company Square Enix has decided to sell majör franchises to fund blockchain initiatives.

Square Enix, the publisher of many famous games such as Final Fantasy, has started preparations to be included in the GameFi industry. The famous video game company announced that it has signed an agreement to sell some game studios and intellectual property (IP) to finance blockchain-based games. It has partnered with Swedish gaming company Embracer for $300 million to fund investments in blockchain, artificial intelligence and cloud services. Making a statement on the subject, Yosuke Matsuda, President of Square Enix, stated that the agreement in question will help the company change the global business environment. Matsuda added that the company will consolidate its core business in digital entertainment.