Gumi Partners With Square Enix And SBI Holdings To Grow The Metaverse Business

Key Points:

• Gumi, a Japanese mobile game firm, has joined forces with Square Enix and SBI Holdings to create new business opportunities centered on the metaverse.
• The agreement will enable the company to gain expertise in finance and content creation and issue additional stock valued at $52.7 million.
• Gumi also intends to promote its own blockchain gaming platform, which includes an NFT marketplace, by leveraging Square Enix’s expertise in game development, distribution, and publishing.

Capital and business collaboration have been formed by Gumi, a Japanese gaming company that specializes in mobile entertainment, with Square Enix, another game producer located in Japan, and SBI Holdings, one of Japan’s largest financial service firms.

Gumi hopes to use this strategic partnership to create a platform to 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 carried out back in May.

The nearly $100 million agreement would enable SBI to market tokens issued in Gumi-produced video games.

Gumi said the money raised would expand this new metaverse company faster than before. Gumi’s target market is the metaverse.

As part of the agreement, new shares worth $52.7 million would be issued, giving SBI Holdings a 22.46% holding in the business and making it the largest stakeholder. According to regulatory filings, Square Enix will own a tiny interest of 3.01%.

Gumi said in a news statement:

“Through this financing, we will be able to build a strong financial base, and by building a co-creative relationship with the SBI Group and Square Enix Group, we will grow our Metaverse business at an even faster rate than ever before and become a further company. We will work to improve value.”

Gumi also intends to promote its blockchain gaming platform, which includes an NFT marketplace, by leveraging. Square Enix‘s expertise in game development, distribution, and publishing.

The company deemed this advancement necessary because domestic consumers find it inconvenient as most tokens issued in these games are traded on foreign platforms. In the same way, Gumi will provide SBI clients with security tokens backed by these games.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News