Rhode Island prepares to sell 38 Studios’ ‘Amalur’ IP

Kingdoms of Amalur Reckoning

A legal representative for the state of Rhode Island is prepared to sell 38 Studios’ intellectual property, including materials related to its Kingdoms of Amalur game and any other projects the studio had in development (such as the Amalur-related MMORPG Project Copernicus), according to Providence Journal (via Joystiq). It is unknown at this time how much the state is asking for the IP.

The Rhode Island government hopes to recover some of the $130 million loan made to Curt Schilling’s 38 Studios. That money was intended to jump-start the game development industry in the state, but 38 was unable to repay its debt and ultimately forced to close. Now the state’s legal counsel is building a case against the studio in a hearing set to take place on May 22, 2013. Meanwhile, another imminent hearing is set to discuss the auctioning off of 38’s IP.

The studio’s material assets, including office equipment, computers and game development tools, were auctioned off in 2012 for roughly $830,000.