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Gumi’s Metaverse Deal with Square Enix

Japan-based gaming company Gumi has announced an equity and partnership with Square Enix Holdings and financial services firm SBI Holdings to accelerate its metaverse business growth.

As investors closely monitor the growth and performance of the cryptocurrency industry, many investment companies are announcing crypto-focused funds. Japan-based game company Gumi has also stepped up its efforts in this area.

Gumi's Metaverse Deal with Square Enix

Gumi has issued $52.3 million worth of new shares, resulting in SBI Holdings becoming the largest shareholder with a 22.46 percent stake, while Square Enix will hold 3.01 percent.

Earlier this year, Square Enix sold three game studios, including Tomb Raider, to raise funds for startups utilizing blockchain technology.

In October, Konami also announced the creation of 13 new job positions for integrating game titles with metaverse technologies.

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