Not long ago a new purchase and sale of the world of video games emerged, because Square Enix got rid of almost all of its western division, and now who will be left with legendary sagas like tomb Raider will be Embrace Group. The objective of this was to invest in the Non-Fungible Tokens market, a decision that apparently they are already rectifying.
According to a report, the Japanese company will not allocate its 300 million dollars to the purchase of these, so now it is going to invest them mainly in the core of its business system. That’s what executives said on an earnings call announcing their fiscal year results, audio released to reporters.
The information, in turn, was distributed by the analyst David Gibson.
Square Enix – in results call said funds raised from Crystal Dynamics/Eidos of $300m will not be put into NFT, rather funds will be used to reinforce core business. NFT will have different finance separate.
—David Gibson (@gibbogame) May 13, 2022
Although the costs of Square Enix they are not going to dedicate 100% to the NFT, that does not mean that they will not invest in other types of electronic expenses, because let’s remember that games are uploaded more frequently in the cloud. So much of the capital could be directed to dedicated servers for the service, since some of their games do not work in the most optimal way.
In the same way, it is somewhat suspicious that they release this news after the fall of the NFT yet 90% of its total, a fairly strong loss for those who gave everything for this market. Many of these buyers resold their items at a hefty discount, hopefully recouping only 10% of their investment.
Via: Pledge Times