Japani Securities, banking and crypto heavyweight SBI and Tokyo Stock Exchange-listed gaming firm Square Enix have announced a crypto gaming M&A deal. The companies have signed a share purchase deal for Gumi, an up-and-coming crypto and blockchain gaming company.
The deal is worth around $53 million – and both SBI and Square Enix now plan to make significant moves into the crypto and blockchain gaming space.
In a press release, SBI wrote that it would “combine” Gumi’s “game development and operational know-how” with its “token listing” prowess. SBI further said:
“We want to list [Gumi-developed crypto gaming] tokens on cryptoasset exchanges such as SBI VC Trade and Bitpoint Japan.”
SBI owns both the trading platforms. The firm said it would use its own NFT marketplace, SBI NFTs, “as a secondary distribution market for acquired NFTs” in Gumi-developed games.
in gumi press releaseThe Tokyo-based gaming firm reported that the deal would see SBI emerge as the largest shareholder with 22.46% voting rights. Square Enix’s investment gives it a 3.01% stake. Square Enix is as famous as the firm that made it last dream And Dragon Quest game title.
What are the crypto gaming plans of Square Enix and SBI?
Earlier this year, Square Enix said that focusing on traditional forms of gaming Will “not have enough” to be successful in the future, The company suggested that user-generated content such as non-fungible tokens (nft) and play-to-earn crypto titles could be incorporated into future business models. The Gumi move may represent one of Square Enix’s first tentative moves into space.
SBI said it was “considering” plans to launch “a platform dedicated to blockchain gaming”.
It added that the “collaboration” would allow it to “develop a one-stop service” for gaming — one that would allow it to “develop and distribute blockchain games” as well as “sell and distribute tokens and NFTs.” Gave permission.
SBI has previously made tentative steps of its own in the gaming space. It operates an e-sports franchise with – Its roster paid in XRP, Its CEO is Yoshitaka Kitao. Wave Board members. In 2019, he claimed that “every bank in Japan” would be using XRP by 2025.
More Read
Bitcoin Crypto Related Post
