Rime studio Tequila Works is currently auctioning off its game rights for hundreds of euros
The Spanish studio filed for insolvency last year
Bankrupt Rime studio Tequila Works is currently selling off its video game and IP rights on an online auction site, including the rights to Rime.
The Madrid-based studio filed for insolvency last year, following staff cuts and the decision to cancel an unannounced project that had been in development.
Now, an event page has been launched on the auction site Escrapalia for the sale of “the intangible assets owned by Tequila Works”, including video game IPs, in-development titles, and the Tequila Works brand.
Most notable is an auction for the trademark and IP of Tequila Works’ most recognisable title, the 2017 adventure game Rime.
The Rime auction, which at the time of publication sits at just €320, includes the Rime trademark without contractual restrictions, and the rights to the Rime game, subject to the publishing contract with Grey Box.
Also up for auction are the trademark and IP rights for Tequila Works’ debut game, Deadlight and a demo for an unreleased sequel, VR game The Invisible Hours, and horror adventure Gylt.
There are also auctions for unreleased games, including vertical slices for an open-world adventure game called The Ancient Mariner, co-op action game Dungeon Tour, and action title Brawler Crawler.
At the time of publication, the Tequila Works brand, along with all websites and social media accounts, sits at €170 on the auction site.
Tequila Works’ debut game was 2012’s Deadlight. Notable releases in the years since have included 2017’s Rime and The Sexy Brutale, and 2019’s Gylt.
Tencent became the company’s majority shareholder in 2022, when Tequila said the funding would be used to fuel studio growth for the development of original IPs.
Its most recent game was last year’s Song of Nunu: A League of Legends Story, which was released under the now-defunct Riot Forge publishing label.
In a statement published late last year, general manager Térence Mosca said he was “proud of what [the team] has accomplished together” but “prolonged market conditions” meant the company had to file for insolvency.
“Since its founding in 2009, Tequila Works’ game-development philosophy has always focused on ‘creating things with gusto’,” the statement said. “We are doing everything we can to provide support and guidance to our teams during this difficult time.”
