Kingdoms of Amalur IP to be Auctioned Off

Kingdoms of Amalur: Reckoning was one of the more notable games of 2012, but poor sales and financial problems for developer 38 Studios resulted in 38 Studios being shut down later that year. The status of the Kingdoms of Amalur IP has been up in the air since then... until now, as it seems that the Amalur IP is heading to auction later this month.

The rights to Kingdoms of Amalur reverted to the state of Rhode Island, after 38 Studios shut down shortly after the release of Kingdoms of Amalur: Reckoning, despite having received a $75 million loan from the state.

The IP is set to be auctioned off later this month, the main offering being the Amalur-based MMO follow-up, "Project Copernicus." 38 Studios' court-appointed receiver Richard Land is optimistic about the prospects of the auction:

"The bulk of the game and intellectual property I don't believe is stale because the artwork is current, the tech used to develop the artwork is current, the concept is a current concept," said Land.

Meanwhile, the U.S. Securities and Exchange Commission continues to investigate the $75 million loan state of Rhode Island provided 38 Studios, which Rhode Island tax payers are now paying back.