Analyst Michael Pachter of Wedbush Securities is estimating that 38 Studio’s Kingdoms of Amalur franchise is currently worth around $20 million.
38 Studios hasn’t been doing all that well as of late. After missing its first loan payment, the company has been in some serious financial trouble, resulting in a number of layoffs at the studio. Rhode Island’s Governor Chafee has made it clear that Curt Schilling and his team need to find a private investor in order to spare the company and RI taxpayers (like myself).
The studio is currently working on a brand-new MMO tied to the Kingdoms of Amalur universe, dubbed Project Copernicus.
Pachter told Joystiq that the estimated $20 million value of the Amalur IP is “low,” adding that since Star Wars: The Old Republic has started losing steam, “nobody is buying MMOs.”
There is just no demand for game assets right now, as THQ proved when it tried to sell the Warhammer MMO. I think [Electronic Arts] could step in, since they are the publisher, so you might see some alternative way to get 38 some bridge financing.
Electronic Arts also commented on the state of Schilling’s company, saying that they “don’t have any new announcements to make regarding 38 Studios.” EA’s Jeff Brown went on to add that they “enjoyed working with Curt and his team on their first game, Kingdoms of Amalur: Reckoning. Like game fans all over the world, we look forward to what 38 Studios creates next.”
