Metaverse Agreement Between Big Three Asian Companies

Japan-based gaming company Gumi announced that it has collaborated with Square Enix and SBI Holdings. Square Enix has sold three game studios, including Tomb Raider, to fund new startups using blockchain technology. Now, it is signing new collaborations to expand its activities in the metaverse field.

Japan-based gaming company Gumi Co has announced that it has formed an equity and business alliance with Square Enix Holdings and financial services firm SBI Holdings to accelerate the growth of its metaverse business as a secondary revenue stream.

Founded in 2007, Gumi has developed several mobile role-playing games, such as Brave Exvius, a spin-off of Square Enix’s popular Final Fantasy franchise. The company also undertook distribution of the NFT mobile game Brave Frontier Heroes.

Gumi will issue new shares worth US$52.3 million (7 billion Japanese Yen), with SBI Holdings the largest shareholder with 22.46 percent, while Square Enix will receive 3.01 percent.

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