Bandai Namco (a gaming development and publishing company) has declared its intent to build its own metaverse. This will increase brand engagement. The company’s new mid-term strategy, which sets out the company’s roadmap for the next three year period, was revealed during its unveiling of their Mid-Term Plan. This project will cost the company 15 billion yen (130 million dollars).
Bandai Namco aims to increase engagement with the Metaverse Project
Bandai Namco is a leading Japanese publishing and game development company. It has created its own metaverse. This resolution was announced in a document that outlined its mid-term strategy. The plan details how the group will operate from April 2022 until March 2025. In the document, issued February 8, the company explains that this new metaverse will be part of its “IP Axis” strategy, to boost the engagement of fans with its franchises. It states that:
In this IP metaverse, we are anticipating virtual spaces that will enable customers to enjoy a wide range of entertainment on an IP axis, as well as frameworks that leverage Bandai Namco’s distinctive strengths to fuse physical products and venues with digital elements.
Bandai Namco said that they expect to spend $15 billion ($130 million) on this project.
Metaphor as a Business Strategy
Bandai Namco refers this metaverse pivot to be an important part of their future, and cites the metaverse concept in its main digital business strategy. As part of their long-term and mid-term strategies, other Japanese companies have begun to introduce new concepts like token economies or user-generated content.
Square Enix developers of Final Fantasy and Dragon Quest series has made this clear. It stated it would be focusing its efforts on tokenized economies as well as blockchain-based content. Yosuke Matsuda (square Enix) recently spoke out about the value of new technologies and the potential rewards for users who create content in a fairer way than it currently does.
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 about Bandai Namco’s investment to build its own IP metaverse? Leave a comment below.
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