Square Enix will not invest in NFTs with the sale to Embracer Group

Square Enix will not invest in NFTs with the sale to Embracer Group

Last week it was announced that Square Enix has reached an agreement with Embracer Group and will sell them some studios and licenses for $300 million. Although Square Enix plans to invest in NFTsthe company clarified that these projects will not be financed with the proceeds of its agreement with Embracer Group.

Following the announcement of the deal with Embracer Group, Square Enix had said that it intended to invest in blockchain, AI, and the cloud. However, during a financial presentation, the company clarified that the money obtained from the sale of Crystal Dynamics and Eidos Montreal will not be used to invest in NFTs, as these projects will be financed in another way.

Related: People Can Fly has not received any profit from Square Enix’s Outriders.

During the presentation of its financial results for fiscal year 2022, Square Enix discussed its plans for the current fiscal year, among which are its intentions to establish new studios to increase its development capabilities.

Square Enix also said that they are planning something for Final Fantasy’s 35th anniversary, and they hope to share news about it over the course of the next month. The long-awaited trailer for Final Fantasy 16 was also mentioned and it seems that Square Enix has high expectations for the game.

Read more: Yuji Naka sued Square Enix for firing him from Balan Wonderworld.

It is known that the Final Fantasy XVI trailer is finished and we are going to see it very soon, in addition to the fact that it had already been confirmed that we will see the first Final Fantasy VII Remake Part 2 teaser this year, but most likely we will have more news starting next month, when the “E3 season” begins.

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