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Tequila Works Assets Auctioned Following Insolvency
Spanish video game developer Tequila Works, recognized for titles like Rime and Gylt, is undergoing an asset auction after declaring insolvency last year. The studio, which previously implemented staff reductions and cancelled an unannounced project, is now offering its intellectual properties and in-development games for sale.
Auction Site Lists Studio’s Intellectual Property
This month, a listing on the European auction website Escrapalia has surfaced, detailing the various intangible assets of Tequila Works. These include its video game IPs, ongoing projects, and the studio’s brand itself. Current bids for established game rights, such as Rime and the former Stadia exclusive Gylt, are ranging between 10,000 and 20,000 euros, according to the latest figures.
Unfinished Games and Project Concepts Available
The auction also features unfinished games that have reached the playable vertical slice stage. These include:
- The Ancient Mariner: an open-world adventure
- Dungeon Tour: a cooperative party game
- Brawler Crawler: a multiplayer brawler featuring a procedurally generated world
Furthermore, concepts for “4 original Tequila Works projects” are listed as “ready for production,” indicating that their creative, narrative, and visual aspects, along with copyright considerations, are fully developed.
Industry Context and Closure
The closure of independent studios like Tequila Works, while unfortunate, is a common occurrence in the video game industry. Typically, studios of this size are often acquired by larger publishers and subsequently closed down with less public visibility. However, the situation with Tequila Works is somewhat similar, as Tencent became the majority shareholder in 2022.
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Notable Absence from Auction
Conspicuously absent from the auction is Song of Nunu: A League of Legends Story. This title was developed by Tequila Works in collaboration with Riot Forge, a publishing label of League of Legends, which has since been discontinued.
Statement on Insolvency
Late last year, Térence Mosca, General Manager of Tequila Works, released a statement expressing pride in the team’s accomplishments. However, Mosca cited “prolonged market conditions” as the primary factor leading to the unavoidable decision of insolvency.
Studio’s Philosophy and Team Support
According to the company statement, Tequila Works, since its inception in 2009, operated under a game-development philosophy focused on “creating things with gusto.” The statement also conveyed that the company is committed to providing support and guidance to its teams during this challenging period.