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 in new gaming companies that are related to Web 3 or metaverse.
Bandai Namco Entertainment 021 Fund
The report states that the startup fund, called “Bandai Namco Entertainment 021 Fund”, will be focusing on Japanese blockchain companies as well as international ones in an effort to increase adoption of encryption technology and non-fungible tokens.
In addition, the focus will be on intensifying the decision making process regarding the foundation of an IP Metaverse (Intellectual Property) and the development 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.
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 development comes just two weeks after Bandai Namco’s $130 million metaverse initiative, which will be based upon its Gundam IP. This is part of the company’s plans to create a metaverse that will be specific for each IP, as a way to connect with fans.
Gaming giant plans to offer customers access to entertainment via an IP axis. It will also leverage its “distinctive strengths” to combine physical products and venues with electronic elements in the IP Metaverse.
In the release, it was also stated that
“The mid-term plan for Bandai Namco Group will create a new way to connect fans with entertainment properties. It will also build a metaverse for each IP in Bandai Namco Group’s portfolio. This is used as part of the company’s IP-based strategies.
The “GUNDAM metaverse” will be the first step in the development of GUNDAM. It will provide a platform for GUNDAM enthusiasts worldwide to connect and converse in a variety categories.
Bandai Namco’s IP Axis strategy envisages a multi-IP hub with multipleverses. Gundam IP is one of the first.
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