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Gumi, a mobile game firm has partnered Square Enix and SBI Holdings to create new Metaverse opportunities

To create new business opportunities centered on the metaverse, Gumi, a Japanese mobile game firm, has joined forces with Square Enix and SBI Holdings. The agreement will enable the company to gain expertise in finance and content creation, as well as the issuing of additional stock valued at $52.7 million.

More and more game developers want to incorporate metaverse components into their games. A capital and economic collaboration has been established by Gumi, a Japanese gaming company that specializes in mobile entertainment, with Square Enix, another game developer located in Japan, and SBI Holdings, one of the country’s largest financial service providers.

In exchange for the agreement, SBI Holdings will get new shares worth $52.7 million, making it the largest stakeholder with a 22.46% holding in the business. According to regulatory documents, Square Enix will have a small share of 3.01%.

Gumi claimed that the money raised would be used to create this new metaverse company “at an even faster rate than ever before,” with the metaverse as its target market.

For the company’s future, this shift towards digital immersive entertainment and the metaverse is extremely important. Gumi announced in a news statement outlining the scope and goals of the alliance:

“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.”

Gumi hopes to use this strategic partnership to create a platform where it can list the tokens it intends to release as part of its long-term game strategy. SBI Holdings acquired the bulk of Bitpoint, a cryptocurrency exchange, as part of a takeover operation that was carried out back in May. The nearly $100 million agreement would enable SBI to market tokens issued in Gumi-produced video games.

The company deemed this advancement to be necessary because domestic consumers find it “inconvenient” as the majority of tokens issued un these types of games are traded on foreign platforms. The same way, Gumi will provide SBI clients with security tokens backed by these games.


Written by T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog.
Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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