Gumi, a Japanese gaming company, collaborates with SBI Holdings and Square Enix to strengthen the metaverse pivot

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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.

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.

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.

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.

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

The company deemed this advancement to be crucial because domestic consumers find it “inconvenient” that the majority of tokens used un these types of games are traded on foreign markets.

The same way, Gumi will provide SBI clients with security tokens backed by these games.

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.

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