Like it or not, the Japanese gaming giant has taken a step further to expand its reigns within the Web3 gaming space.
Final Fantasy publisher Square Enix is putting in more money to create NFT titles
Japanese gaming giant Square Enix has made another move in the blockchain gaming scene. This time, the company invested 7 billion yen ($52.7 million) in mobile game developer Gumi to fund the creation of high-quality mobile titles, NFT games, and a metaverse project.
According to a press release, this partnership will allow Gumi to access some of the intellectual property from Square Enix. The two companies may also work together to launch an NFT marketplace focused on gaming assets.
“We are already considering the establishment of a platform dedicated to blockchain games and an NFT marketplace, etc.,” wrote Gumi in a statement. “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.”
It’s worth noting that the duo is looking to create “Wow and Earn” games, an eccentric term that refers to games built out of well-known IPs integrated with play-to-earn (P2E) features. By doing so, Gumi hopes that the audience will “break away from the highly speculative” nature of blockchain titles and truly enjoy NFT games via powerful in-game content.
The Japanese mobile game developer has also outlined plans to work on a host of NFT games that will likely have metaverse integrations. According to Gumi, it is now working “day and night” to expand its metaverse arm of the business as it looks to diversify its revenue streams.
Square Enix and Gumi have previously partnered on a few mobile titles in the Final Fantasy Brave Exvius series. Both companies are also involved in Oasys blockchain, an upcoming blockchain network for NFT gaming.
Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.