Square Enix, NFT-Friendly Game Company, Collaborates with Gumi to Create a Blockchain Game

JAKARTA - The Japanese game giant known as Nonfungible token (NFT)-friendly, Square Enix, has invested 7 billion yen (IDR 822 billion) in game developer Gumi to create "high-quality" mobile games, blockchain games, and the Metaverse initiative.

According to their press release, this partnership will help Gumi leverage certain intellectual property from Square Enix, while the two may also work together for a market focused on NFT games.

“We are considering establishing a platform dedicated to blockchain games and the NFT market, etc. Through the collaboration between the two companies, we will provide one-stop services ranging from the development and distribution of blockchain games to the sale and distribution of game tokens and NFTs,” said Square Enix, quoted by Cointelegraph.

The company also outlined plans to work on a number of NFT games that will likely have metaverse integration. The Japanese company has outlined a unique new term called “Wow and Earn,” which basically refers to games built from world-famous IPs integrated with blockchain-based play-to-earn (P2E) features.

“In the future, while considering the use of powerful content that everyone recognizes, we will break away from the highly speculative blockchain games of the past and create value while enjoying fun and excitement. We are keenly aware that it is important for gamers around the world to create blockchain games that embody 'Wow and Earn,'” the release reads.

Gumi also stated that they were "working day and night" to develop a branch of the business focused on the metaverse as they wanted to add another source of revenue beyond mobile games.

Gumi has previously worked with Square Enix on several mobile games as part of Exvius' Final Fantasy Brave series, and the two companies are partners of the blockchain game project Oasys, building its own network designed purely for P2E gaming.