Japanese gaming developer and publishing company, Bandai Namco, just announced that it is setting up a fund of 1 billion yen, approximately $7.9 million in 1 year, and 3 billion yen, approximately $23.8 million in 3 years to invest in startup companies in Web3 and metaverse.
Bandai Namco’s Metaverse Strategy
A report published by the startup investment fund, titled “Bandai Namco Entertainment 021 Fund,” included that the fund will focus on blockchain startup companies in Japan first as well as in other countries in a proposal to accelerate the adoption of non-fungible tokens (NFTs) and encryption technology.
The priority will also be on speeding up the decision-making process in order to set the groundwork for an IP (intellectual property) Metaverse and the creation of a new entertainment system.
The current investment fund also focuses on entertainment-related products and services such as virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and so on.
Meanwhile, the gaming giant has been actively developing partnerships with a variety of start-ups from other industries and sectors to progress the Web3 and metaverse industry.
The present release also stated
“The new mid-term plan will introduce a new means of connecting fans to entertainment properties by building a metaverse for each IP under Bandai Namco Group’s portfolio, which is also utilized as a key part of the company’s IP based strategies.”
Gundam IP is one of the first examples of Bandai Namco’s IP Axis plan, which envisions a multi-IP hub of multiverses. “Development will begin with the creation of the “GUNDAM Metaverse” where it will become a platform of opportunities for GUNDAM fans worldwide to come together to converse and connect in a variety of categories.” the release stated.
This news comes just two weeks after Bandai Namco revealed a $130 million metaverse project based on the Gundam IP. This is part of the company’s ambition to create a metaverse for each IP as a new way for fans to connect.
Customers will be able to access a wide range of entertainment via an IP axis, with the gaming giant exploiting its “distinctive qualities to blend physical products and venues with digital aspects in this IP Metaverse.”
About Bandai Namco
Bandai Namco Entertainment Inc.[a] is a Japanese multinational video game publisher headquartered in Minato-ku, Tokyo. It is a wholly-owned subsidiary of Bandai Namco Holdings, an entertainment conglomerate.