Published: 14.04.2022
Article reading time:
2 minutes.
After entering the Web3 and Metaverse markets, Japanese gaming industry giant Bandai Namco launched a fund to support startups that are developing in the field of VR, AR and AI.
Bandai Namco announced the creation of a fund of 3 billion yen (about $23.8 million) to invest in gaming companies related to Web3 and the metaverse. The Bandai Namco Entertainment 021 Fund will focus on Japanese and foreign blockchain companies to accelerate the adoption of non-fungible tokens (NFTs) and encryption technology.
Particular attention will be paid to creating the basis of the metaverse – intellectual property and the development of a new entertainment system. The Fund will support product and service providers who work in the field of virtual reality (VR), augmented reality (AR) and artificial intelligence (AI).
The gaming giant is now actively partnering with several startups across multiple sectors to help grow Web3 and the Metaverse ecosystem. Bandai Namco began developing its product two weeks after it announced its initiative to launch a $130 million metaverse based on the IP Gundam.
This is part of the company’s plan to develop a metaverse for each IP as a new basis for connecting with fans. The gaming giant intends to provide customers with access to a wealth of entertainment while using its “special strengths to connect physical products and places with digital elements in this IP metaverse.
In March, Qualcomm, one of the largest manufacturers of mobile processors and software, announced the launch of a new fund for $100 million, the funds of which will go to the development of the metaverse.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
