In early May, Square Enix announced that it would sell Embracer Group to Crystal Dynamics studios, Eidos Montreal, Square Enix Montreal and several franchises for $300 million. The company recently clarified that it is not going to spend the funds from the transaction on NFT and blockchain, although it will now pay more attention to these areas.
Square Enix President Yosuke Matsuda said this during the presentation of the annual financial report. He stressed that the company will direct the $300 million received for the further development of its core gaming business, and not for anything else.