Japan-based gaming company Gumi Co. Ltd. has announced an equity and business alliance with Square Enix Holdings Co. Ltd. and financial services company SBI Holdings Co. Ltd. to accelerate the growth of its metaverse business. as a secondary source of income.

See related article: Japanese gaming giant Konami is recruiting to expand into Web3, metaverse

Fast facts

• Gumi, founded in 2007, has developed several role-playing games for mobile devices, such as Brave Exvius, a spin-off of Square Enix’s popular Final Fantasy franchise. The company has also distributed the non-fungible token (NFT) mobile game Brave Frontier Heroes.

• Gumi will issue new shares worth $52.3 million (7 billion Japanese yen), making SBI Holdings the largest shareholder with a 22.46% stake, while Square Enix will receive 3.01 %.

• Great game…