Pearl Abyss has sold CCP Games, the studio responsible for EVE Online, for about $120 million. The transaction was paid in cash and with EVE Tokens, a digital asset of the game. This figure contrasts with the $225 million the South Korean company paid in 2018, representing a loss of nearly 47% of the original investment.
EVE Tokens as a payment method in the transaction 💰
The purchase included a portion in EVE Tokens, a digital asset that allows players to redeem game time and items within EVE Online. Although Pearl Abyss has not detailed the exact percentage, this payment formula directly links the company's value to the game's own economy. The use of tokens in corporate acquisitions is uncommon and adds additional risk for the buyer, as the asset's value depends on the health of the title.
Losing money, but with digital style 🚀
Selling a studio for less than half of what it cost hurts, but if you also accept tokens whose value is determined by the market as payment, it's a wild move. Pearl Abyss has turned a bad investment into a financial experiment. Now the new owner hopes the EVE Tokens don't crash while trying to make a profit from a game that is already 20 years old. Good luck with that.