A metaverse-driven alliance raises $52.7 million for Gumi
Game developers are increasingly including metaverse elements in their games. In a capital and business alliance announced by Gumi, a Japanese mobile entertainment company, Square Enix, another Japanese game developer, and SBI Holdings, one of Japan’s largest financial service companies, Gumi is focused on mobile entertainment.
According to regulatory filings, SBI Holdings will hold a 22.46% stake in the company, becoming the largest shareholder. Square Enix will have a marginal stake of 3.01%.
This new metaverse business will be grown at an “even faster rate than ever before” with the funds raised by Gumi.
Gumi’s pivot towards digital immersive entertainment and the metaverse has significant implications for the company’s future. Gumi stated in a press release that the alliance has the following goals:
A strategic alliance between Gumi and Bitpoint will allow Gumi to list the tokens it plans to issue in its future games strategy. The deal, valued at almost $100 million, would enable SBI to list tokens issued in Gumi-developed games. SBI Holdings acquired Bitpoint in May as part of a takeover.
As most tokens issued in these kinds of games are sold on international exchanges, making them “inconvenient” for domestic players, the company deemed this development essential. SBI customers will also receive security tokens backed by these games from Gumi.
In addition, Gumi hopes to utilize Square Enix’s experience in developing, distributing, and publishing games in order to push its own blockchain gaming platform.