Japanese games firm Bandai Namco has said that it is going to spend $130 million on its very own metaverse.

In a presentation released yesterday (Tuesday, February 8th), the company said that it will be spending $130 million on what it calls its 'IP Axis Strategy'. The plan is to essentially create a virtual world – metaverse – for each of its properties " 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," Bandai Namco wrote.

"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."