Japanese video game giant Bandai Namco establishes $25 million fund for start-ups Web 3 and Metaverse

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Japanese game developer and publisher Bandai Namco has announced a fund of 1 billion yen (or approximately $7.9 million) in 1 year and 3 billion yen (or approximately $23.8 million) in 3 years to invest in upcoming game companies related to Web 3 and metaverse.

Bandai Namco Entertainment Fund 021

According to the report, the seed investment fund, dubbed “Bandai Namco Entertainment 021 Fund”, will focus on blockchain companies in Japan as well as overseas in a bid to accelerate the adoption of non-fungible tokens. (NFT) and encryption technology.

Emphasis will also be placed on stepping up the decision-making process to lay the foundation for an IP (intellectual property) metaverse and the development of a new entertainment system.

The latest investment fund also targets entertainment-related product and service providers engaged in VR (virtual reality), AR (augmented reality), AI (artificial intelligence), etc.

Meanwhile, the gaming giant has been actively forging collaborations with several start-ups from different companies and industries to advance the growth of Web 3 and the metaverse ecosystem.

Strengthen its base metaverse

The development comes two weeks after Bandai Namco announced its $130 million metaverse initiative which will be based on its Gundam IP. It’s part of the company’s plans to develop a metaverse for each IP address as a new fan connection framework.

The gaming giant intends to enable customers to access a myriad of entertainment on an IP axis while leveraging its “distinctive strengths to merge physical products and locations with digital elements in this IP metaverse.

The statement also said,

“The new mid-term plan will introduce a new way to connect fans to entertainment properties by creating a metaverse for each IP in Bandai Namco Group’s portfolio, which is also used as a key part of the company’s IP-based strategies. ‘business.

Development will begin with the creation of the “GUNDAM Metaverse” where it will become a platform of opportunities for GUNDAM fans around the world to come together to converse and connect across a variety of categories.

Bandai Namco’s Axis IP strategy envisions a multiverse multi-IP hub, with Gundam IP being one of the first instances.

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