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Editing by Nathaniel Cajuday
- Japanese video game developer Square Enix has invested 7 billion yen of common stock into Gumi, a Japanese video game developer and publisher, to create games that incorporate blockchain technology and non-fungible tokens (NFTs).
- The partnership aims to “make the Metaverse business a second earnings pillar” for Gumi alongside its mobile online game business.
- Square Enix and Gumi have also considered the possibility of establishing a platform dedicated to blockchain games and will “promote consideration of various initiatives with the aim of providing new forms of blockchain games and forming an ecosystem.”
Japanese video game developer Square Enix—the creator of games such as Final Fantasy, Kingdom Hearts, and Dragon Quest—has recently invested a total of 7 billion yen of common stock through a third-party allotment in Gumi, a Japanese video game developer and publisher, to create games that aim to integrate blockchain technology and non-fungible tokens (NFT).
“By combining the Square Enix Group’s global game publishing capabilities and marketing know-how with our group’s game development capabilities, long-term operational capabilities, and overseas expansion know-how, we will develop high-quality mobile, online, and blockchain games. We will strive for early global expansion,” Gumi stated.
In the statement, Gumi claimed that the partnership as well as the blockchain venture are expected to “make the Metaverse business a second earnings pillar in addition to the mobile online game business, which is the current mainstay of earnings.”
Prior to this, the collaboration was for the development and distribution of mobile online games and blockchain games, but the two game developers noted that their partnership may also consider the joint establishment of a platform dedicated to blockchain games. Following this, the two firms then assured that they “will promote consideration of various initiatives with the aim of providing new forms of blockchain games and forming an ecosystem.”
“In the area where the Metaverse business belongs, services using new technologies such as blockchain are being created one after another, and the market is expanding rapidly. Our group has been distributing the NFT game Brave Frontier Heroes so far. Know-how such as economic formation is required. Also, in the future, while considering the use of powerful content that everyone recognizes, we will break away from the highly speculative blockchain games of the past and create value while enjoying fun and excitement. We strongly recognize that it is necessary for game users all over the world to create a blockchain game that realizes ‘Wow and Earn.’”’
Aside from Square Enix, Gumi also collaborated and formed a strategic capital and business alliance with the SBI Group, as this firm has the “financial know-how” to further push its new business value in the metaverse.
“Through collaboration between the two companies, we will develop and distribute blockchain games, sell, and distribute tokens and NFTs. We aim to provide one-stop services that can be developed,” Gumi guaranteed.
Last May, Square Enix sold some of its properties, including overseas studios and Intellectual Properties (IPs), to Sweden-based Embracer Group AB to enter the blockchain space and adapt to the changes in the global business environment. (Read more: Final Fantasy Developer Sells $300M Worth IP, Including Tomb Raider, to Invest in Blockchain)
Further, these above-mentioned gaming firms are not the only Japanese gaming giants to enter the metaverse. Last September, Bandai Namco and SEGA also expressed their desire to be in the blockchain gaming ecosystem. (Read more: 2 More Japanese Gaming Giants Set to Enter Blockchain Gaming World)
This article is published on BitPinas: Final Fantasy Developer Invests in a Japanese Game Developer to Create NFTs, Blockchain Games
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