Square Enix partners with Japanese gaming company Gumi to expand in gaming, metaverse, and NFTs
In Brief
Gumi has partnered with Square Enix and SBI Holdings to build new business opportunities in the metaverse and expand in blockchain gaming and NFTs.
The partnership also includes issuance of new stock valued at $52.7 million dollars.
Japanese mobile gaming company Gumi has partnered with Japanese game developer Square Enix and Japan’s financial service company, SBI Holdings, to create mobile games, blockchain games, and a metaverse initiative.
Gumi aims to create a game-focused NFT marketplace and a platform for trading gaming tokens. The partnership includes Gumi issuing new shares worth $52.7 million, which will make SBI Holdings the top shareholder with a 22.46% stake in the company, while Square Enix will get a minor stake of 3.01%.
SBI Holdings bought a majority stake in the cryptocurrency exchange Bitpoint. The acquisition, valued at around $100 million, will enable SBI to list tokens issued in games developed by Gumi.
However, according to the company’s statement, Gumi, first and foremost, wants to develop a new metaverse business. In a press release, Gimi said, “The group is working day and night to make the metaverse business a second pillar of revenue apart from the mobile online game business, which is the current mainstay of revenue.”
Square Enix is actively involved in NFTs and the metaverse. The company announced Symbiogenesis, a new playable NFT experience, in November. It also created Final Fantasy NFTs with Enjin. Gumi will benefit from Square Enix’s vast experience in developing, distributing, and publishing blockchain games and NFTs.
Japan is also bullish on web3: Even the government has announced its investment in NFTs and the metaverse as a part of Japan’s digital transformation plans. One of the biggest blockchain gaming companies, Animoca Brands, has been expanding into Japan.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
