Bandai Namco, a Japanese Gaming Giant, Establishes $25M Fund to Support Web 3, Metaverse Start Ups

Bandai Namco, a Japanese publishing and gaming company, has announced the creation of a fund worth 1 billion yen (7.9 million). In 1 year, 3 billion yen ($23.8million approx.) In 3 years to invest into upcoming gaming companies in the Web 3 and Metaverse.

Bandai Namco Entertainment 021 Fund

According to the report, the startup investment fund, dubbed “Bandai Namco Entertainment 021 Fund,” will focus on blockchain companies in Japan as well as overseas in a bid to accelerate the adoption of non-fungible tokens (NFTs) and encryption technology.

It will also be a focus on intensifying decision-making processes for laying the foundations of an IP (Intellectual property), Metaverse, and the development of new entertainment systems.

The latest investment fund also targets entertainment-related products and service providers engaged in VR (virtual reality), AR (augmented reality), AI (artificial intelligence), etc.

The gaming giant has been active in forming partnerships with start-ups from different industries and businesses to help grow Web 3 and the metaverse ecosystem.

Metaverse: Strengthening its Footing

This news comes two weeks following Bandai Namco’s $130-million metaverse project that will be based off its Gundam IP. This is a part of the company’s plans to develop a metaverse for each IP as a new framework for connecting with fans.

The gaming giant intends to allow customers access to a myriad of entertainment on an IP axis while leveraging its “distinctive strengths to merge physical products and venues with digital elements in this IP Metaverse.

In the release, it was also stated that

“The new mid-term plan will introduce a new means of connecting fans to entertainment properties by building a metaverse for each IP under Bandai Namco Group’s portfolio, which is also utilized as a key part of the company’s IP-based strategies.

The development will begin with the creation of the “GUNDAM Metaverse” where it will become a platform of opportunities for GUNDAM fans worldwide to come together to converse and connect in a variety of categories.”

Bandai Namco’s IP Axis strategy envisions a multi-IP hub of multiverses, with Gundam IP being one of the first instances.

Get latest news from African Startup ecosystem

Latest stories

You might also like...