Bandai Namco solidifies NFT and metaverse plans

Bandai Namco offers more details on its upcoming NFT and metaverse plans, confirms the first metaverse will be set in the Gundam franchise.

Bandai Namco sees opportunity with the metaverse and NFTs. The company has ambitions to create metaverses for each of its most popular franchises including Dragon Ball, Gundam. and possibly even Tekken. Bandai Namco's idea of a metaverse is a kind of hub that integrates gaming, merchandise, and digital content in a social sphere where gamers can connect, buy, and play.

The first metaverse will be based on Gundam. It's called Side-G and is a kind of galaxy with multiple "colonies" for different activities and content; one colony will be for esports, another for Gunpla models, and even one for games. In a new Q&A session, Bandai Namco tells investors that its metaverses, and incoming NFTs that are incorporated into the metaverses, are not meant for speculative purposes--e.g. trying to make thousands of dollars with artificial scarcity.

"Ultimately by connecting multiple colonies that have been launched, we will create a strong connection with fans. We will be NFTs and the introduction of new technologies such as blockchain is not for speculative purposes, but for fans and we will consider the need for connection. [Our goal is to] connect with fans and expand the community. I would like to create a world where fans can connect to," Bandai Namco management said in a Q&A session during its Q1 earnings call.

Here is what Bandai Namco has previously said about its metaverse plans:

"On an IP axis, Bandai Namco will develop a metaverse for each IP as a new framework for connecting with fans. In this IP Metaverse, we are anticipating virtual spaces that will enable customers to enjoy a wide range of entertainment on an IP axis, as well as frameworks that leverage Bandai Namco's distinctive strengths to fuse physical products and venues with digital elements.

"On an IP axis, Bandai Namco will develop a metaverse for each IP as a new framework for connecting with fans. In this IP Metaverse, we are anticipating virtual spaces that will enable customers to enjoy a wide range of entertainment on an IP axis, as well as frameworks that leverage Bandai Namco's distinctive strengths to fuse physical products and venues with digital elements.

"We are aiming for open frameworks that provide venues for connections with and among fans and business partners. Through the IP Metaverse, we will establish communities among Bandai Namco and fans, as well as among fans themselves.

"Through these communities and content, we will build deep, broad, multifaceted connections that continue for long periods of time, and we will focus on the quality of those connections."