Fun

Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot

News Feed - 2022-12-28 07:12:01

Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot


Gumi, a Japanese mobile gaming company, has partnered with Square Enix and SBI Holdings to build new business opportunities around the metaverse. The deal, which also includes the issuance of new stock valued at $52.7 million dollars, will allow the company to acquire financial and content creation experience. Gumi Raises $52.7 Million in Metaverse-Driven Alliance


More and more gaming companies are looking to include metaverse elements in their games. Gumi, a Japanese gaming company focused on mobile entertainment, has announced a capital and business alliance with Square Enix, another Japan-based game developer, and SBI Holdings, one of the biggest financial service companies in Japan.


The deal includes the issuance of new shares valued at $52.7 million, which will give SBI Holdings a 22.46% stake in the company, becoming the top shareholder. Square Enix will have a marginal stake of 3.01%, according to regulatory filings.


Gumi’s target is the metaverse, and it declared that the funds raised will be invested to grow this new metaverse business at “an even faster rate than ever before.”


This pivot towards digital immersive entertainment and the metaverse has marked significance for the future of the company. In a press release explaining the scope and objectives of the alliance, Gumi stated: The group is working day and night to make the metaverse business a second earnings pillar in addition to the mobile online game business, which is the current mainstay of earnings. Areas of Expansion


With this strategic alliance, Gumi aims to have a platform to list the tokens it wants to issue as part of its future games strategy. As part of a takeover executed back in May, SBI Holdings purchased a majority stake in Bitpoint, a cryptocurrency exchange. The deal, valued at almost $100 million, would allow SBI to list tokens issued in Gumi-developed games.


The company qualified this development as essential, as most of the tokens issued in these kinds of games are distributed on international exchanges, making it “inconvenient” for domestic users. In the same way, Gumi will issue security tokens backed by these games to customers of SBI.


Gumi also hopes to take advantage of the experience that Square Enix has in developing, distributing, and publishing games in order to push its own blockchain gaming platform, including an NFT marketplace. Tags in this story bitpoint, Blockchain, Gaming, Gumi, Japan, Metaverse, nft, SBI Holdings, square enix, Stock


What do you think about Gumi’s alliance with Square Enix and SBI Holdings to pivot toward the metaverse? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Argentine Soccer Association AFA Partners With Upland to Enter the Metaverse METAVERSE | 2 days ago Samsung Is Investing More Than $35 Million in Latam-Focused Metaverse Initiatives METAVERSE | 5 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleVenezuelan Banks Have Blocked Over 75 Accounts Since the End of Last Year Due to Cryptocurrency-Related Activities Next articleArgentine Senate Mulls Crypto Advertisement Regulation Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales


Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

‘Save Your Skin’ From Inflation With BTC, The Great Monetary Shift, and SHIB Burns — Bitcoin.com News Week in Review
"Save Your Skin" From Inflation With BTC, The Great Monetary Shift, and SHIB Burns — Bitcoin.com News Week in Review Another spicy week of crypto news heads into the weekend, wit
Unicoin exec explains why projects fail — Blockchain Futurist Conference
Vince Quill4 hours agoUnicoin exec explains why projects fail — Blockchain Futurist ConferenceUnicoin hopes to launch on exchanges later this year and focuses on creating digital assets backed by investment portfolio w
US Financial Services Committee Hearing Discussed the Creation of a ‘Digital Dollar’
US Financial Services Committee Hearing Discussed the Creation of a "Digital Dollar"On June 11, 2020, the United States Congress Financial Services Committee held a remote hearing a
Africa-Focused Crypto Exchange Yellow Card Raises $40 Million via Series B Round
Africa-Focused Crypto Exchange Yellow Card Raises $40 Million via Series B Round Africa-focused crypto exchange Yellow Card recently revealed it has closed its $40 million Series B
Texas Securities Regulators and Attorney General Object to FTX Purchasing Voyager Digital
Texas Securities Regulators and Attorney General Object to FTX Purchasing Voyager Digital Regulators from the state of Texas and the state’s attorney general are objecting to FTX
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of Institutional Capital’
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to "Front Run Wave of Institutional Capital" Twitch director and former CEO of Bebo Shaan Puri ann
Singapore Regulator Advocates ‘One Regulatory System’ for Crypto and Traditional Finance
Singapore Regulator Advocates "One Regulatory System" for Crypto and Traditional Finance Singapore’s senior minister and the chairman of the central bank, the Monetary Author
Dogecoin Accounts for 40% of Robinhood’s Crypto Transaction Revenue in Q3
Dogecoin Accounts for 40% of Robinhood"s Crypto Transaction Revenue in Q3 Trading platform Robinhood has reported that 40% of its cryptocurrency transaction-based revenue was attri
Major Thai Bank SCB Acquires 51% Stake in Cryptocurrency Exchange
Major Thai Bank SCB Acquires 51% Stake in Cryptocurrency Exchange Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange.
Grab Ethereum Now? Expert Says Next Stop Could Be $10,000 After ‘Final Drop’
Este artículo también está disponible en español. Ethereum analysts are keeping a close look at the altcoin, which is stuck in a long downtrend. Some call for major upwar
Trader turns $2.2K of SOL into $2.26M in 8 hours with new memecoin
Zoltan Vardai14 hours agoTrader turns $2.2K of SOL into $2.26M in 8 hours with new memecoinThe trader made an over 993x gain on their initial investment, spurring insider trading allegations.20956 Total views30 Total sha
Bitcoin Slides Over 13%, Veteran Trader Peter Brandt Suggests BTC Will Peak at $200k but Hints of Possible Deep Corrections
Bitcoin Slides Over 13%, Veteran Trader Peter Brandt Suggests BTC Will Peak at $200k but Hints of Possible Deep Corrections Veteran trader Peter Brandt has impli