Bandai Namco Investing $130 Million In Building Its Own IP Metaverse

One of the leading Japanese game development and publishing companies Bandai Namco has announced its intentions to create its own metaverse, to increase the engagement that fans have with the brand. During the reveal of its new mid-term plan, the company announced its strategy, which outlines its roadmap for the next three years. The company will be expected to spend 15 billion yen ($130 million) on the project.

The resolution was announced by the company outlining its mid-term plan in a document, which gives details of the strategy the group will be following from April 2022 to March 2025. The company explains in its document issued on February 8 that to boost the engagement of its fans with the franchises, the new metaverse will be a part of its “IP Axis” strategy.

The plan states that the company is anticipating virtual spaces in this IP metaverse, that will enable customers to enjoy a wide range of entertainment on IP Axis, as well as frameworks that give leverage to Bandai Namco’s distinctive strengths to fuse venues with digital elements and physical products.

Bandai Namco has announced for this purpose it is expected to spend 15 billion yen ($130 million) for establishing the date foundation and content development for the intellectual property (IP) metaverse.

This metaverse pivot is referred to as a very important part of the company’s future, considering the metaverse concept as one of its digital business plan main strategies. In this field, other Japanese companies have also started introducing new concepts, which include user-generated content and token economies as part of their mid and long-term strategies.

Yosuke Matsuda the president of Square Enix has recently also talked about the importance of the new technologies and how the new world will reward the users who generate content more fairly than it is done currently.

Sergio a cryptocurrency journalist based in Venezuela has described himself as late to this game, entering cryptosphere when the price rise happened during December 2017. Living in Venezuela and being influenced by the boom of cryptocurrency at a social level, having a computer engineering background, he gives a different point of view about crypto success and how it helps the underserved and unbanked.