- Gumi has signed a $52 million metaverse agreement with Square Enix and SBI.
- Gumi is giving 22.46% of ownership.
- Japan will boost their digital transition by investing in NFTs.
Japan-based Gumi Co. Ltd. and Square Enix Holdings Co. Ltd. have started a financial and commercial collaboration with financial services firm SBI Holdings Co. Ltd. to expand its virtual world company as a subsidiary revenue stream.
Gumi will consider issuing shares for $52.3 million (7 billion Japanese yen), giving SBI Holdings 22.46% ownership and Square Enix 3.01%.
New Web 3.0 business concepts have been revealed by prominent Japanese game producers such as Square Enix, Sega, and Konami.
Three game companies, including Tomb Raider, were among those sold by Square Enix earlier this year to raise money for new blockchain-based projects. Konami revealed 13 new job openings in October to combine its gaming titles with virtual world technology.
In October, Prime Minister Fumio Kishida said that Japan would accelerate its electronic transition by investing more in NFTs and the multiverse.
Square Enix Holdings Co., Ltd. is a Japanese multinational holding corporation, production firm, and entertainment company renowned for its role-playing video game brands, such as Final Fantasy, Dragon Quest, Star Ocean, and Kingdom Hearts.
Gumi started in 2007 and has created several mobile role-playing video games, including Brave Exvius, a spin-off of Square Enix’s popular Final Fantasy franchise. The firm has also issued the non-fungible token (NFT) for the mobile game Brave Frontier Heroes.