Rhode Island is preparing to sell the Kingdoms of Amalur IP, with a website offering its assets going live this month, 38 Studios' court-appointed receiver Richard Land tells WPRI. 38 Studios collapsed in 2012 after launching Kingdoms of Amalur: Reckoning, taking $90 million of Rhode Island taxpayer money down with it.

The main piece of Amalur up for auction will be Project Copernicus, the studio's MMO-in-progress.

"If someone is thinking that Rhode Island is going to sell this for millions and millions of dollars, I would have a very difficult time believing that," Joystiq News Editor Alexander Sliwinski told WPRI in a Skype interview.

Land is optimistic about the sale: "The bulk of the game and intellectual property I don't believe is stale because the artwork is current, the tech used to develop the artwork is current, the concept is a current concept." Sliwinski warns that the fantastical world of Copernicus may be outdated as the industry shifts into the next generation.

The US Securities and Exchange Commission is investigating the $75 million loan that Rhode Island provided to 38 Studios. Rhode Island taxpayers have already begun paying back the loan.

This article was originally published on Joystiq.

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