Japanese Gaming Giant Bandai Namco Establishes About $20 Million Fund to Invest in Web3 and Metaverse

Japanese gaming giant Bandai Namco has announced the launch of the Bandai Namco 021 Fund. The fund will invest a total of 3 billion yen (approximately $23.9 million) in Japanese and overseas blockchain companies and startups engaged in Web3 and metaverse-related businesses, with a planned investment of 1 billion yen per year. The fund was established to accelerate the decision-making process to build IP metaverse and create new entertainment. Previously, Bandai Namco planned to invest $130 million in the development of the "IP Metaverse" and released the "Gundam Metaverse" plan.