Author : Mark

Date : Dec 27,2022

Square Enix contributes to the NFT gaming company.

The blockchain games firm Gumi has received investment from Square Enix, the creator of the well-known video game franchises Final Fantasy and Kingdom Hearts, to the tune of 7 billion yen, or roughly $53 million. Gumi will be able to create games based on Square Enix's intellectual property, particularly the Final Fantasy series, thanks to this partnership.

According to the company's news release, the agreement will also allow Gumi to investigate engaging blockchain games (translated from Japanese). Additionally, it stated the core "Wow and Earn" rule of blockchain gaming and said that the primary reason why traditional players haven't played Web3 games up until now is because they aren't fun to play.

Along with creating blockchain games, Square Enix and Gumi may also pursue the following two Web3 options: creating a one-stop NFT marketplace and releasing coins, particularly for Japanese cryptocurrency exchanges. To complete the "earn" element of "Wow and Earn," players would also be able to trade in-game non-fungible tokens (NFTs) and cryptocurrencies on the NFT marketplace.

"We are already considering the establishment of a platform dedicated to blockchain games and an NFT marketplace, etc. Through collaboration between the two companies, we will provide a one-stop service from the development and distribution of blockchain games to the sale and distribution of tokens and NFTs," Gumi noted in the press release.

Gumi claimed in the news release that it will also concentrate on the metaverse, although its goals for these virtual reality environments have not yet been established. The 7 billion yen investment will be given to Square Enix and SBI Holdings in the form of issued stock. The two companies' combined stake in Gumi will increase as a result of this tactical action.

Square Enix's investment in Gumi is excellent news for fans of blockchain gaming, and it may result in the release of some intriguing blockchain games in 2023. Here at NFT Drops Calendar, we'll keep an eye out for any further developments in the tale.