Monday, July 22, 2024
HomeTechnologyJapanese game Bandai Namco to invest $31.7 million in Web3 and Metaverse...

Japanese game Bandai Namco to invest $31.7 million in Web3 and Metaverse start-ups

Bandai Namco, the Japanese gaming giant, is the latest conventional player to spend big on Web 3 and the Metaverse with a new fund.

Bandai Namco, a Japanese game developer, and publishing business announced a fund of 1 billion yen (about $7.9 million) in one year and 3 billion yen ($23.8 million approx.) in three years to invest in forthcoming gaming companies connected to Web3 and the metaverse.

According to the source, the startup investment fund, named “Bandai Namco Entertainment 021 Fund,” would target blockchain startups in Japan and abroad in order to accelerate the use of non-fungible tokens (NFTs) and encryption technology.

The emphasis will also be on accelerating the decision-making process for creating the groundwork for an IP (intellectual property) Metaverse and developing a new entertainment system. The current investment fund also focuses on entertainment-related products and service providers involved in VR (virtual reality), AR (augmented reality), AI (artificial intelligence), and other technologies.

Meanwhile, the gaming giant has been aggressively developing relationships with a variety of start-ups from various industries and sectors in order to accelerate the expansion of Web3 and the metaverse ecosystem.

Metaverse is regaining its footing

The news comes only two weeks after Bandai Namco unveiled a $130 million metaverse venture centred on their Gundam IP. This is part of the company’s intention to create a metaverse for each IP as a new way to communicate with fans.

The gaming giant plans to provide clients with access to a wide range of entertainment on an IP axis while utilising its “distinctive strengths to merge physical products and venues with digital elements in this IP Metaverse.”

Gundam IP is one of the first examples of Bandai Namco’s IP Axis plan, which envisions a multi-IP hub of multiverses. The release also stated,

“The new mid-term plan will introduce a new means of connecting fans to entertainment properties by building a metaverse for each IP under Bandai Namco Group’s portfolio, which is also utilised as a key part of the company’s IP-based strategies. The development will begin with the creation of the “Gundam Metaverse,” where it will become a platform of opportunities for GUNDAM fans worldwide to come together to converse and connect in a variety of categories.”

Read more:

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


Please enter your comment!
Please enter your name here

6 − 2 =

- Advertisment -

Most Popular