In order to develop its “metaverse activity”, Gumi has carried out an equity fundraising in which the famous video game publisher Square Enix and the investment fund SBI Holding are taking part.
Square Enix invests in Gumi for the metaverse
The interest shown by the famous Japanese video game publisher in blockchain and Web3 technologies is no longer a secret. In this logic, Square Enix reaffirms this appetite through a strategic investment in the company Gumito develop its metaverse business.
In order to carry out this operation, the company issued new shares for 7 billion yen, or the equivalent of 52.7 million dollars at the current price. Square Enix will therefore buy said shares alongside SBI Holding, an investment fund present on the stock exchange, already familiar with the blockchain universe too. This agreement will be concluded on January 11.
Gumi’s “metaverse activity” is symbolized by online mobile game development, which are the company’s main source of income. She wishes to emphasize this dimension.
Currently, the company operates the blockchain games “MyCryptoHeroes” and “Brave Frontier Heroes”, among others. Otherwise, Gumi also maintains nodes on blockchains like Klaytn (KLAY) or Theta Network (THETA).
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Square Enix and the Web3
In 2022, Square Enix will have fully assumed its blockchain shiftalthough it started it earlier, among other things by investing in The Sandbox in 2020. This year, the company has even gone so far as to sell certain franchises like Tomb Raider in order to finance its new activities.
A token creation was also mentioned, although little concrete has been revealed since. Last July, non-fungible tokens (NFT) were unveiled on the occasion of the 25th anniversary of Final Fantasy VII. More recently, in November, a blockchain game called SYMBIOGENESIS was announced for next spring on Ethereum (ETH).
Where some studios may be cautious in this transition, as Mojang Studio did by banning NFTs from Minecraft for example, Square Enix multiplies experiencesplacing his pawns slowly but surely.
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Source: Press release
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