Bandai Namco is developing a $130 million ‘IP metaverse’

Game publisher Bandai Namco is creating a virtual space to easily connect with the fan community.

According to VCG, Bandai Namco has revealed plans to develop its own ‘IP Metaverse’, to help their game fan community interact with each other.

The issuer shared details of its mid-term plan (April 2022 to March 2022) with shareholders on February 8, and explained that the core objective of the plan will be the ‘IP Axis Strategy’. The strategy has 3 main goals of connecting with fans through its IP, enhancing IP value, and implementing worldwide coverage projects to improve sales outside of Japan.

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Bandai Namco is developing a $130 million ‘IP metaverse’

Part of this plan is to create an ‘IP Metaverse’, which the publisher says it will spend 15 billion yen (about 130 million USD) to implement.

Metaverse is a term currently popular among technology companies, used to describe a hypothetical online virtual world with a focus on social networking .

“Bandai Namco will develop the metaverse for each IP as a new framework to connect with fans. In this ‘IP Metaverse’, it is expected that the virtual space will allow customers to enjoy various types of entertainment on the IP axis, as well as take advantage of Bandai Namco’s special strengths to combine physical and locations with digital elements,” the plan states.

“The company is moving towards open frameworks that provide connection points between fans and business partners . Through IP Metaverse, we will establish community connections between Bandai Namco and fans, as well as between fans. Through these communities and content, we build deep, broad, multifaceted connections that have continuity over the long term and can focus on the quality of those connections. In this way, the company will work to maximize IP value in the medium to long term.”

According to the plan, the 15 billion yen investment in IP Metaverse will go towards establishing the data platform and content development for IP Metaverse itself. The plan ends with a reminder that “realizing the metaverse concept” is one of Bandai Namco’s main strategies for the next 3 years.