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Bandai Namco, a game development and publishing company, has announced its intention to create its own metaverse to increase the engagement of fans with the brand. The strategy was announced at the presentation of its new medium-term plan, which presents the company's roadmap for the next three years. The company plans to spend 15 billion yen (130 million dollars) on this project.
Bandai Namco aims at stimulating engagement with Metaverse Project.
Bandai Namco, one of the largest Japanese game development and publishing companies, creates her own metaverse. The company announced the resolution in a document outlining its mid-term plan, which details the strategy the group will follow from April 2022 to March 2025. In the document, published on February 8, the company explains that this new metaverse will be part of its strategy "IP axis", to boost the commitment of fans with its franchises. The plan states:
This is an ip metaverse, we foresee virtual spaces that will allow our clients to enjoy a wide range of entertainment on an ip axis, as well as executives who leverage bandai namco's distinctive strengths to fuse physical products and places with digital elements.
To this effect, bandai namco announced it expects to spend 15 billion yen ($130 million) for the establishment of the data foundation and the development of the content for this intellectual property (ip) metaverse.
Metaverse for business strategy.
Bandai namco describes this meta-tipper pivot as a very important part of the company's future, citing the metaverse concept as a key strategy in their digital business plan. Other Japanese companies in the field have also started to introduce new concepts, including token economies and user-generated content as part of their medium and long-term strategies.
That's what happens with the square enix, developers of the ultimate fantasy, dragon quest, and the kingdom hearts, which said it will focus on blockchain-based content and symbolic economies, outside of what the company normally produces. Square Enix president Yosuke Matsuda recently talked about the importance of these new technologies, and also how the new worlds will be able to reward users that generate content in a more fair way than is done currently.
Krafton, another gaming company, announced this month it’s going to dabble in metaverse and NFT projects, revealing investments in companies that will allow it to craft a metaverse project based on its PUBG intellectual property.
What do you think of Bandai Namco's investment in building their own IP metavers? Share with us in the comments section below.
