38 Studios ‘Project Copernicus’ rights to be auctioned off in Nov.

An auction of the rights to the 38 Studios video game under development when the company declared bankruptcy, codenamed “Project Copernicus,” has been scheduled for mid-November. More

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38 Studios ‘Project Copernicus’ rights to be auctioned off in Nov.

COURTESY HERITAGE GLOBAL PARTNERS
CONCEPT ART AND STORYLINES from the "Kingdoms of Amalur" mythos are among the assets on display at the auction webpage for 38 Studios' "Project Copernicus," the game in development when the company declared bankruptcy last year.
Posted 9/27/13

PROVIDENCE – An auction of the rights to the 38 Studios video game under development when the company declared bankruptcy, codenamed “Project Copernicus,” has been scheduled for mid-November.

Prospective bidders can now register for the auction through Heritage Global Partners, the asset-advisory and auction service handling the auction on behalf of 38 Studios receiver Richard J. Land.

The Heritage Global Partners webpage for the auction is located at www.hpgpauction.com/auctions/29297/38-studios/.

The proceeds from each asset sale 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 which $400,000 came from leased equipment that went back to the leasing company.

“Project Copernicus” assets going up for auction in November include the intellectual property rights to the “Kingdoms of Amalur” fantasy universe and sequel rights to “Kingdoms of Amalur: Reckoning,” the sole 38 Studios game brought to market before the company failed in June 2012.

Also slated for auction will be technology developed in-house by 38 Studios and its affiliate Big Huge Games, including the “Big Huge Games Engine” and a social media and game-development platform codenamed “Helios.”

In June, Land told Providence Business News that he could not estimate the worth of the “Kingdoms of Amalur” mythos, represented in concept art and storylines for the role-playing game that Curt Schilling hoped would join the ranks of popular MMOs like “World of Warcraft.”

“I have no idea, and it would be wrong to guess,” said Land. “It would put an expectation out there that could be too high or low.”

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offthegrid

This is all a big show.

What taxpayers need to know is who is benefiting from the State paying back bonds that we aren't obligated to?

Answer that.

Sunday, November 3, 2013 | Report this
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