38’s Amalur IP valued at $20 million, says analyst

Wednesday, 23 May 2012 15:53 GMT By Stephany Nunneley

Wedbush Securities analyst Michael Pachter has estimated the value of 38 Studios’ Amalur IP is worth around $20 million, according to Joystiq.

According to Pachter, “nobody is buying MMOs after Star Wars fizzled,” and the $20 million value attached to the Amalur IP “is low.”

“There is just no demand for game assets right now, as THQ proved when it tried to sell the Warhammer MMO,” he said. “I think [Electronic Arts] could step in, since they are the publisher, so you might see some alternative way to get 38 some bridge financing.”

EA was Kingdoms of Amalur: Reckoning’s publisher, but hasn’t said whether or not it will publish the firm’s MMO, Project Copernicus.

“We don’t have any new announcements to make regarding 38 Studios,” EA corporate communications boss Jeff Brown told the site. “We enjoyed working with Curt and his team on their first game, Kingdoms of Amalur: Reckoning. Like game fans all over the world, we look forward to what 38 Studios creates next.”

Last night, Turbine held a recruitment fair in Providence, Rhode Island and according to a report from WPRI, “more than 300 applicants were applying for 50 jobs with Turbine,” several of which were current or former employees of 38 Studios.