38 Studios’ Copernicus fails to deliver, as auction grosses $320K
COURTESY 38 STUDIOS
PROJECT COPERNICUS, the 38 Studios game in development when the company declared bankruptcy last year, failed to attract an "acceptable offers" in a Dec. 10 auction of 38 Studios' intellectual property assets. Above, screenshots of the Project Copernicus massively multiplayer online role-playing game.
PROVIDENCE – A Dec. 10 auction of 38 Studios’ intellectual property assets grossed $320,000, but no “acceptable offers” were made for the 38 Studios video game under development when the company declared bankruptcy, according to a statement from 38 Studios receiver Richard J. Land.
Of the more than 20 interested parties that initially expressed interest in the 38 Studios assets, five actively participated in the auction conference call. Two lots were sold – one consisting of the “Rise of Nations” and “Rise of Legends” real-time strategy games developed by 38 Studios affiliate Big Huge Games in the mid-2000s, and the other consisting of the Big Huge Games trademark.
The social media and game-development platform codenamed “Helios” developed in-house by 38 Studios and Big Huge Games also failed to receive any acceptable bids, according to Land’s statement.
At the time this article was posted, Land had not returned calls for comment on what an acceptable offer for the under-development game, codenamed “Copernicus,” would have been. However, in an email statement issued Friday afternoon, he said he would “continue to engage in negotiations with interested parties to sell the remaining assets.”
The $320,000 grossed from the auction will go toward paying off 38 Studios’ creditors, of which the state of Rhode Island is the largest, with an estimated liability of $89 million.
Land sold 38 Studios’ physical property – including computers, electronics, furniture and memorabilia – in two auctions last year that brought in $830,000. Of that amount, $400,000 came from leased equipment that went back to the leasing company.
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.