Gumi, a gaming startup based in Tokyo, Japan, has announced a $52 million commercial arrangement with SBI Holdings Co., Ltd. As a second revenue stream, Square Enix intends to develop new opportunities in the Metaverse.
Big players in the metaverse
As firms throughout the game business utilize the Metaverse. Gumi has also bet on its huge potential by issuing $52 million worth of additional shares, giving SBI Holdings more than 22% and Square Enix over 3%.
Gumi is a game development company that designs and operates social games. It was started by Hironao Kunimitsu in June of 2007. It engages in industries including mobile internet games, virtual reality (VR), and augmented reality (AR). It has developed a number of mobile games, including Brave Xavis, which was inspired by Square Enix’s Final Fantasy series.
According to the company’s official website, Gumi is a leader in growing into new metaverse-related markets.
They say “we are expanding into new content for “unique” technologies like blockchain and XR, and investing in leading global companies with growth.”
Gumi’s stated purpose for investing in business corporations and leading organizations is early identification of market growth for the next three to five years, investing in market-leading global enterprises, and developing new revenue streams through collaborations and capital alliances.
compete for speed
Gumi stated in a news statement on the extent to which the transaction would provide, “The group is working day and night to make the Metaverse business a second pillar of income in addition to the mobile online game business, which continues to generate revenue.” The present is the mainstay.”
Japan’s Prime Minister Fumio Kishida reportedly reviewed the country’s strategy for investing in digital transformation technologies, including the Metaverse and non-fungible tokens (NFTs), until October 2022. Kishida stated in the Japanese parliament that the nation will prioritize “promoting efforts to increase the use of Web3 services that use metawars and NFTs.”
In the gaming industry, Square Enix has incorporated NFT and blockchain-based games. According to sources, it sold popular titles including Dukes X, Tomb Raider, and Legacy of Kain. In addition, Ubisoft committed a substantial amount of money in the same field and released NFT goods for its key video game franchises.
Nancy J. Allen is a crypto enthusiast who believes cryptocurrencies encourage users to become their own banks and abandon conventional monetary exchange systems.
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