Bandai Namco invests US$130M in creating its IP metaverse

The Japanese game developing and publishing company announced its group's “IP axis strategy” to create its metaverse to connect fans and increase engagement. The IP metaverse will allow all their existing IPS into one shared space. 

The strategy was announced during the reveal of the company's mid-year plan, which detailed its vision for the next three years between April 2022 and March 2025.

Bandai Namco Seeks to Boost Engagement with new IP Metaverse

Bandai Namco is prepared to spend heavily on the development of the data foundation and content of the intellectual property (IP) metaverse, and expects to spend 15 billion yen (US$130 million) to make the plan a reality.

An official document from the company explained that this new metaverse would be part of its "IP Axis" strategy to improve customer engagement with its products.

"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."

Metaverse as a Business Strategy

Bandai Namco's new metaverse project aims to achieve three things:

● IPx Fans (Connect with their fans through its IP)
● IP x Value (Maximise the value of its IP)
● IP x World (Create an interconnected multiverse of all its IPs named the "ALL BANDAI NAMCO concept) 

The game company's current list of IPs includes Pac-Man, Tekken, Soul Calibur, Dark Souls, Elden Ring, with its licensed manga and anime.

In an effort to maximize IP value, Bandai Namco also estimates 25 billion Yen (US$216 million) will be needed for new IP development, "groupwide IP initiatives," and technology research.
 

Meanwhile, Bandai Namco also revealed a change to its new corporate logo, which was introduced in October last year. The text's font has been changed and is now enclosed in a red speech bubble. This new logo is supposed to launch in April.

Other Japanese game companies are also showing interest in new technologies, especially in blockchain-based tokenized economies.  

Yosuke Matsuda, president of Square Enix, believes there's unlocked potential in blockchain technology. He said the company would expand its capacity to offer blockchain-based content and tokenized economies along with its regular products.

Meanwhile, Krafton, the South Korean video game company behind the popular PUBG title also revealed its intentions to delve into the NFT and metaverse space through the creation of a PUBG Metaverse. This will include a user generated content creation tool and virtual world constructed by Epic Games’ Unreal Engine, along with the metaverse, community and social services managed by NAVER Z. The partnership between KRAFTON and NAVER Z seeks to usher in a future fueled by NFTs and metaverses. Other tech companies testing the waters in the metaverse include Microsoft and Epic Games.

Photo: Bandai Namco