Japanese game developer and publisher Bandai Namco has announced a fund of 1 billion yen (or approximately $7.9 million) in 1 year and 3 billion yen (or approximately $23.8 million) in 3 years to invest in upcoming game companies related to 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.
Emphasis will also be placed on stepping up the decision-making process to lay the foundation for an IP (intellectual property) metaverse and the development of a new entertainment system.
The latest investment fund also targets entertainment-related products and service providers engaged in VR (virtual reality), AR (augmented reality), AI (artificial intelligence), etc.
Meanwhile, the gaming giant has been actively forging collaborations with several start-ups from different companies and industries to advance the growth of Web 3 and the metaverse ecosystem.
Strengthening its Footing Metaverse
The development comes two weeks after Bandai Namco announced its $130-million metaverse initiative that will be based on 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 enable customers to access a myriad of entertainment on an IP axis while leveraging its “distinctive strengths to merge physical products and locations with digital elements in this IP metaverse.
The release also stated,
“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.
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 Axis IP strategy envisions a multiverse multi-IP hub, with Gundam IP being one of the first instances.
