Tequila Works has put its game rights and intellectual property up for auction after declaring insolvency

Following a filing for insolvency last November, Tequila Works is currently holding an auction to sell off the rights to its intellectual properties and games.

According to a report by VGC, the Spanish game developer has organized a listing on the auction website Escrapalia. This listing includes the company's "intangible assets" such as trademarks, uncompleted projects, and the studio's branding.

Available for purchase are titles like the exploration game Rime, the action-adventure game Gylt, and Tequila Works' first release, Deadlight.

Furthermore, the auction includes unique prototypes of unreleased concepts like The Ancient Mariner, Dungeon Tour, and Brawler Crawler, as well as the studio's branding elements, including its website and social media accounts.

The decision to file for insolvency was driven by "prolonged market conditions." Shortly before this, the company had reduced its staff by letting go of a "small number" of workers.

In March 2022, the company accepted an undisclosed investment from Tencent, which made the Chinese tech giant its majority investor. The funds were allocated to expanding the company and developing more original games.