December 11, 2023

Japanese game firm 'Gumi' partners with Square Enix and SBI Holdings

Recently there has been an increase in the number of game developers interested in including features.The Japanese mobile entertainment provider has established strategic partnerships with other Japanese firms andSBI Holdings. Through the issuance of additional shares worth $52.7 million, SBI Holdings will increase its position in the firm to 22.46% and become the largest shareholder.

The regulatory documents indicate that the shareSquare Enixwill be very insignificant – 3.01%.The company's fortunes largely depend on this shift toward virtual reality and other forms of immersive digital entertainment. Currently, the mobile online gaming industry is the main source of income, but the company is working tirelessly to change this situation by making the metaversion business the second pillar of profit.

Moreover,Gumihopes to use this partnership as a springboard for the listing of tokens it plans to issue as part of its long-term vision for the gaming industry.

bitpoint– it is an exchange that was acquired by SBI Holdings in a deal completed back in May. This deal, worth almost $100 million, will allowSBIsell tokens used in games created byGumi. This is “inconvenient” for local users, since most of the tokens created in these games are sold on foreign exchanges, so the company considers this innovation extremely important.

In addition, Gumi will provide SBI customerssecurity tokens secured by these games. Gumi plans to promote its own blockchain gaming platform that will have an NFT market, leveraging Square Enix's experience in game development, distribution and publishing.