Square Enix partners with Japanese gaming company Gumi to expand in gaming, metaverse, and NFTs

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Gumi has partnered with Square Enix and SBI Holdings to build new business opportunities in the metaverse and expand in blockchain gaming and NFTs.

The partnership also includes issuance of new stock valued at $52.7 million dollars.

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Japanese mobile gaming company Gumi has partnered with Japanese game developer Square Enix and Japan’s financial service company, SBI Holdings, to create mobile games, blockchain games, and a metaverse initiative.

Gumi aims to create a game-focused NFT marketplace and a platform for trading gaming tokens. The partnership includes Gumi issuing new shares worth $52.7 million, which will make SBI Holdings the top shareholder with a 22.46% stake in the company, while Square Enix will get a minor stake of 3.01%.

SBI Holdings bought a majority stake in the cryptocurrency exchange Bitpoint. The acquisition, valued at around $100 million, will enable SBI to list tokens issued in games developed by Gumi.

However, according to the company’s statement, Gumi, first and foremost, wants to develop a new metaverse business. In a press release, Gimi said, “The group is working day and night to make the metaverse business a second pillar of revenue apart from the mobile online game business, which is the current mainstay of revenue.”

Square Enix is actively involved in NFTs and the metaverse. The company announced Symbiogenesis, a new playable NFT experience, in November. It also created Final Fantasy NFTs with Enjin. Gumi will benefit from Square Enix’s vast experience in developing, distributing, and publishing blockchain games and NFTs.

Japan is also bullish on web3: Even the government has announced its investment in NFTs and the metaverse as a part of Japan’s digital transformation plans. One of the biggest blockchain gaming companies, Animoca Brands, has been expanding into Japan.


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Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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