Bandai Namco the latest game titan to embrace the metaverse
The Japanese studio addressed fan concerns over environmental issues as it launched its metaverse bid.
Another major game development studio is entering the world of NFTs, as Bandai Namco Entertainment reveals that the company is investing millions into developing metaverse IPs.
The game development titan is known for the hit fighting game and esport franchise Tekken, as well as other popular game franchises like Ace Combat and the God Eater series.
In their mid-term plan document released this month, Bandai Namco states that they are allocating roughly USD $130 million to develop IP around the metaverse concept.
This plan is part of their new axis strategy and will serve as “a new framework for connecting with fans”, according to the plan document. Although the acronym ‘NFT’ doesn’t appear in Bandai Namco’s new strategic plan, NFTs are inextricably intertwined with the concept of the metaverse.
Through these new metaverse experiences Bandai Namco hopes to build new avenues for connections not just for fans but also for business partners, and maximize the value of these new IPs from a medium to long term standpoint. Bandai Namco also states that this move into metaverse IPs is a major pivot in their business strategy, particularly with their digital business approach.
Bandai Namco is the second major Japanese game developer and publisher to announce that they are making the move into NFTs, following Square Enix.
Although there is no info yet if Bandai Namco will also incorporate their existing IPs in the metaverse, we might expect that it is a possibility given their diverse lineup of games. As both developer and publisher, Bandai Namco’s game portfolio isn’t just known to include PC, console and mobile game titles but also licensed work, including games based on popular anime shows such as the hit mecha franchise, Mobile Suit Gundam.
While the move into NFTs might concern some fans who have misgivings about the environmental effects of minting, Bandai Namco also included the goal of reducing the company’s overall carbon footprint for the next 20 years in their mid-term plan. Bandai Namco is setting medium to long term targets for decarbonization of their business sites with the goal of reducing carbon emissions to net-zero by the year 2050.