Japanese Firm Bullish On Crypto And Blockchain, Bets $30M

Brave Frontier x Final Fantasy

A Japan-based mobile games creator puts a $30M fund on the table for cryptocurrencies and blockchain.

Gumi has published gaming titles like Brave Frontier and Final Fantasy: Brave Exvius. A project where it functioned as a partner along with Square-Enix and another company, Alim.

Gumi founder and CEO Hironao Kunimitsu and Miko Matsumura, the founder of the Evercoin cryptocurrency exchange, are at the forefront of the fresh capitalization scheme, according to a VentureBeat report. The fund’s establishment was guided by the law firm White & Case LLP as mentioned in a “different announcement“.

“We decided to create a fund that enables us to engage more directly with early-stage blockchain and cryptocurrency startups, in order to be more effective partners and have a real impact in the market,” Kunimitsu said.

Although the $30M fund is a recent undertaking, the partnership already has some investments on the ground. Unsurprisingly, they have stakes in Robot Cache, a company that allows trading video games. It is aiming to challenge the gaming distribution platform, Steam with a blochchain-powered platform.

The fund would directly put money in both equity and tokens, Matsumura informed GamesBeat:

“We like early stage. We invest in equity or tokens. We like financial services. We like game technologies, and we believe there is a strong connection between gaming and crypto,” he said.

(Image Source: Brave Frontier X Final Fantasy)

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