In a significant turn of events, the Spanish game studio Tequila Works, known for its unique approach to game development, has found itself in the throes of insolvency. This announcement came after a series of staff reductions and the cancellation of an unannounced project, which had already hinted at the studio’s struggles.
Assets Up for Auction
Recently, a listing appeared on the European auction platform Escrapalia, showcasing the various intangible assets of Tequila Works. Among these assets are the studio’s notable video game intellectual properties, in-development titles, and its brand identity. As of now, the bidding for several of these game rights, including the critically acclaimed Rime and the previously Stadia-exclusive Gylt, has reached impressive figures, ranging from 10,000 to 20,000 euros.
In a statement released late last year, Térence Mosca, the general manager of Tequila Works, expressed pride in the team’s achievements despite the challenging circumstances. He acknowledged that “prolonged market conditions” left the company with no viable options but to declare insolvency. The studio, founded in 2009, has always embraced a philosophy centered on “creating things with gusto,” a mantra that has guided its creative endeavors.
Tequila Works remains committed to supporting its teams during this tumultuous period, as they navigate the complexities of the gaming industry landscape. The auction of its assets presents a pivotal moment, not only for the studio but also for potential buyers looking to acquire established IPs and innovative titles that have shaped the gaming experience.
