Bandai Namco will spend $130 million to create a metaverse on its IP
Bandai Namco has announced its own metaverse. The Japanese company is going to build a project based on all its IP addresses and hopes that this will help it strengthen its connection with their fans. Bandai Namco has allocated ¥15 billion ($130 million) to realize its ambitions.
Elden Ring
The company announced this during a conversation with investors.
According to Bandai Namco, she wants to create virtual spaces for each of her IP. What they will look like is not yet completely clear, but it is assumed that visitors to such spaces will have access to a “wide range of entertainment” and will be able to communicate both with each other and directly with Bandai Namco. All these online communities together will serve as a metaverse.
“With the help of such communities and the content in them, we will be able to form a deep, broad and multifaceted connection [between the company and its IP fans]. This connection will remain strong for a long time, and we will focus on maintaining its quality. This will allow us to maintain the value of IP in the medium and long term,” Bandai Namco said.
Note that the creation of the metaverse is part of the company’s new development strategy called IP Axis Strategy. As part of it, Bandai Namco is going to achieve three main goals. This is strengthening the connection with IP fans, increasing the value of the company’s products and increasing sales outside Japan.
It is expected that the implementation of the strategy will cost Bandai Namco 40 billion ($347 million) and will take three years.
Along with the presentation of the strategy, Bandai Namco also shared the financial report for the last three quarters of 2021. The publisher’s revenue for this period amounted to ¥628.3 billion ($ 5.4 billion), and profit — ¥92.1 billion ($ 799 million). Both figures have increased compared to the previous year. Revenue by 15.5%, profit by 26.4%.
Recall that Bandai Namco owns such game franchises as Dark Souls, Elden Ring, Tales, Pac-Man, Dragon Ball and SoulCalibur. In addition to games, the company also deals with music and video.
