SBI Holdings, a financial services company based in Tokyo, Japan, is all set to launch Neo Champion, a joint venture with Jungle X, with the goal of developing a sports and game content platform for its push into the Web 3.0 ecosystem.
Recently, Web 3.0, which is built based on blockchain technology and is called the next-generation Internet, is attracting attention. We have been considering starting the challenge with the theme of creating neo-sports and neo-culture in the digital space of the Web 3.0 era.
says SBI Holdings in its announcement.
SBIホールディングスとジャングルX、Web3.0時代のスポーツ＆ゲームコンテンツプラットフォームをテーマとする合弁会社を設立［SBIホールディングス］ https://t.co/DETQ1pl3i3— 北尾吉孝 (@yoshitaka_kitao) December 9, 2022
SBI Holdings aims to work together with Jungle X to realize a project that can build a possible token economy in a flexible manner. According to the statement, the joint venture will approach content in the Web 3.0 era, such as “the value of walking in our daily lives,” based on the concept of “valuing consumption behavior.”
The financial giant believes that content in the Web 3.0 era has a strong affinity with the gaming industry and that it is thus perfectly compatible with Japan, which has the world’s third-largest game market.
Neo Champion will use multiple business model patents owned by Jungle X in Japan to create a Web 3.0 era sports & game content platform that delivers new experiences to everyone.
Furthermore, SBI Holdings will issue its own crypto assets that can be consumed and produced within the platform and have utility as well as governance.
“Looking ahead to the future that creates itself, we will work hard.” the announcement reads. Initially, SBI Holdings’ Neo Champion will create content so that we can offer everyone a diverse range of appealing “sports and game content in the Web 3.0 era.”
The Japanese securities and banking giant previously launched a crypto-asset fund for retail investors last year, and it has been actively investing in the infrastructure that will allow it to launch additional crypto products.
The firm recently made a strategic investment in Digital Asset, a New York-based startup known for developing enterprise blockchain solutions. As part of the agreement, the two will launch a joint venture in East Asia this year, including Japan and South Korea, and the project will involve programmable money, including a “smart yen”.