Square Enix is selling a lot of its studios and IPs. We reported yesterday that the company is flogging Tomb Raider, Deus Ex and a few others alongside the studios that made the games including Eidos Montreal and Crystal Dynamics. Square Enix’s excuse for selling these studios is simple – they made games that the company says “underperformed”. It seems that both Marvel’s Avengers and Marvel’s Guardians of the Galaxy were to blame for this as the company lost around $200 million on these games.
Keep in mind that Square Enix shot themselves in the foot by developing a live-service Avengers game that didn’t have any hope of being successful. The game launched with a mediocre campaign, in-game purchases, a boring grind for power, and the lack of replayability was far off from what you would expect in a live-service game.
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Sadly, the horrendous launch then affected its next game – Marvel’s Guardians of The Galaxy. The lack of trust in the company meant gamers were hesitant about the single-player adventure and in the end, didn’t buy it.
According to industry analyst David Gibson, the double blow led to Square Enix losing over $200 million on both of these games in just under two years. Gibson says that while the IPs had potential, Square Enix’s low sale price of the properties (sitting at $300 million for the entire package) reflected this loss.
Strange move, plan to invest more into blockchain etc, they dont need the money. Too hard to manage overseas projects? https://t.co/BEZNDm6jv2
— David Gibson (@gibbogame) May 2, 2022
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