By: Eddie Makuch
The 38 Studios/Big Huge Games liquidation auction held this week found no buyer for Project Copernicus, the company’s in-development MMORPG, or sequel rights for Kingdoms of Amalur: Reckoning. In addition, 38 Studios social media platform called Helios did not find a buyer.
Other unsold assets included the Big Huge Games Engine and intellectual property rights for Catan.
The state of Rhode Island’s attorney, Richard J. Land, announced the results of the auction today. Rhode Island assumed ownership of all 38 Studios assets after the company went bankrupt in summer 2012.
As for assets that did sell, Land said five parties actively participated in the auction and two lots were ultimately sold. One lot included Rise of Nations and Rise of Legends games and associated intellectual property; the second was for the Big Huge Games trademark itself.
Gross proceeds for both lots was $320,000, though buyers were not mentioned. In total, more than 20 parties expressed interest in the assets, Land said.
Proceeds so far pale in comparison to the estimated $100 million debt Rhode Island faces as a result of 38 Studios’ bankruptcy, but the state has not given up on its attempts to sell the unsold assets. Land said the state will continue to negotiate with interested parties to sell the remaining assets.
Two auctions last year liquidated office equipment from 38 Studios in Providence, Rhode Island, and the company’s office in Timonium, Maryland, netting less than $1 million.