The Kingdoms of Amalur now have a new land to call home. Rhode Island Economic Development Corporation and the Bank of New York Mellon Trust Company have secured the rights to the game, as well as 38 Studios’ other assets.
This is following a public crumble earlier this year by 38 Studios, as the company was unable to return a $75 million loan which was originally granted to help start up the studio. The company was started by ex Boston Red Sox pitcher Curt Schilling as a way to break in to the industry.
Rhode Island and the Bank of New York Mellon Trust Company were granted access to the bankrupt studios assets as the result of a hearing which took place in Wilmington, Delaware on Tuesday. They will now attempt to sell most assets regarding the studio, including intellectual property rights in order to make back a portion of the unpaid loan.
Kingdoms of Amalur received a warm critical response when released back in February, 2012. According to industry analyst Michael Pachter, the intellectual property of the series is worth $20 million, regarding that “nobody is buying MMOs after (Star Wars: The Old Republic fizzled).”
While Kingdoms of Amalur was a single-player role-playing game, there was an MMO in development for the series under the codename Project Copernicus. The MMO was set to be released during late spring in 2013.
The companies were eager to receive rights to the intellectual property, in case someone at the studio was granted permission to get rid of the computer equipment, which could result in the loss of the property.