Japanese gaming giant Bandai Namco creates $25M fund for Web 3 and Metaverse startups
Development will begin with the creation of the "GUNDAM Metaverse
Japanese game developer and publisher Bandai Namco announced a fund of 1 billion yen (approximately $7.9 million) in 1 year and 3 billion yen (approximately $23.8 million) in 3 years to invest in future game companies related to Web 3 and the Metaverse .
Bandai Namco Entertainment Foundation 021
The startup investment fund, dubbed Bandai Namco Entertainment 021 Fund, will focus on blockchain companies in Japan as well as overseas, aiming to accelerate the adoption of non-fungible tokens (NFTs) and encryption technology, according to the report.
The focus will also be on intensifying the decision-making process to lay the groundwork for the IP (intellectual property) metaverse and develop a new entertainment system.
The latest investment fund is also targeting entertainment-related product and service providers engaged in VR (Virtual Reality), AR (Augmented Reality), AI (Artificial Intelligence), etc.
Meanwhile, the gaming giant is actively partnering with several startups across companies and sectors to help grow Web 3 and the Metaverse ecosystem.
Strengthening your core metaverse
Development began two weeks after Bandai Namco announced its $130 million metaverse initiative to be based on its Gundam IP. This is part of the company’s plans to develop a metaverse for each IP as a new basis for connecting with fans.
The gaming giant intends to provide customers with access to a variety of entertainment on the IP axis, while using its “special strengths to connect physical products and places with digital elements in this IP metaverse.
The release also says,
Development will begin with the creation of the “GUNDAM Metaverse” where it will be a platform where GUNDAM fans from all over the world can come together to network and network in various categories
Bandai Namco’s IP Axis strategy is to create a multiverse center with multiple IPs, one of the first examples of which is Gundam IP.