Japan’s Gaming Firm ‘Gumi’ Partners With Square Enix and SBI Holdings

  • SBI Holdings will increase its position in the firm to 22.46%.
  • Square Enix’s shareholding will be very little at 3.01%.

There has been a recent uptick in the number of game developers interested in including metaverse features. Japanese mobile entertainment provider Gumi has established a strategic partnership with other Japanese firms Square Enix and SBI Holdings.

Through the issuing of additional shares with a value of $52.7 million. SBI Holdings will increase its position in the firm to 22.46% and become the largest shareholder. Moreover, regulatory papers indicate that Square Enix’s shareholding will be very little at 3.01%.

Long-term Vision For Gaming Industry

The company’s fate rests heavily on this shift toward virtual reality and other forms of immersive digital entertainment. Currently, the mobile online gaming industry is the primary source of revenue, but the firm is working tirelessly to change that by making the metaverse business a second profit pillar.

Furthermore, Gumi hopes to use this partnership as a springboard for listing the tokens it plans to issue as part of its long-term vision for the gaming industry. Bitpoint is a cryptocurrency exchange that was acquired by SBI Holdings in a deal that was completed back in May. This almost $100 million transaction would enable SBI to market tokens used in games created by Gumi.

For local users, it is “inconvenient” as most tokens created within these games are dispersed on foreign exchanges, hence the business deemed this innovation crucial. Similarly, Gumi will provide SBI clients with security tokens backed by these games.

Moreover, Gumi plans to promote its own blockchain gaming platform, which will have an NFT marketplace, by capitalizing on Square Enix’s expertise in game development, distribution, and publishing.

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