Gumi, a Japanese mobile gaming company, has teamed up with Square Enix and SBI Holdings to explore new business opportunities in the metaverse. The company also received a cash injection of $52.7 million.
Gumi Secures $52.7 Million Investment in Metaverse-Oriented Alliance
More and more game companies are looking to incorporate metaverse elements into their games. Gumi, a Japanese game developer specializing in mobile entertainment, has announced a partnership with Square Enix, SBI Holdings, and Equity and Business Partners. SBI, one of the largest financial services companies in Japan, will issue new shares totaling $52.7 million.
Gumi’s main goal is to develop the metaverse. The company stated that the funds raised would be used to accelerate the growth of the metaverse business. “an even faster rate than ever before.”
Gumi has declared that the future of the company is dependent on the transformation to digital immersive entertainment and the metaverse. The company issued a press release that outlined the scope and goals of the alliance:
The group works around the clock to make the metaverse a second pillar of profit, in addition to the mobile game business.
Expansion Plans
As part of this strategic alliance, Gumi plans to create a platform for tokens to be listed as part of its future gaming strategy. In May, SBI Holdings acquired a majority stake in Bitpoint, a cryptocurrency exchange, for a deal valued at around $100 million. This would enable SBI to list tokens issued by Gumi games.
The move was deemed necessary by the company, as tokens from these games are usually traded on international exchanges, which is “inconvenient” for home users. Gumi also intends to use Square Enix’s expertise in game distribution, publishing, and development to create its own blockchain gaming platform.
What do you think about Gumi’s alliance with Square Enix and SBI Holdings? How do you think they will pivot into the metaverse? Let us know in the comments below.
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