Ontology announces partnership with gumi Cryptos Inc.

Ontology | 06.24| 343

Ontology has just announced a strategic partnership with gumi Cryptos Inc. (“gumi Cryptos”). By cooperating with gumi Cryptos in games, entertainment, and marketing, Ontology is aiming to gain a foothold in the Japanese cryptocurrency market.

gumi Cryptos’ parent group gumi Inc. (“gumi”) is a Japanese mobile games giant. Founded in 2007, gumi has developed and distributed many hit titles, such as “Brave Frontier” and “The Alchemist Code”. In May 2019, gumi Cryptos, a wholly-owned subsidiary of gumi, was founded to focus on managing gumi’s blockchain business. Related entities include gumi Cryptos Capital, a venture capital fund dedicated to investing in promising blockchain companies globally, blockchain game developer double and next-generation SNS platform FiNANCiE.

image from gumi Inc.

According to CryptoCompare, Japanese Yen is the second largest fiat currency in bitcoin trading after US Dollar. According to Yano Research Institute, the market size for blockchain related services in Japan will reach JPY17.1Bn in 2019, representing a growth of 112% compared to last year.

At the moment, even the best public blockchain projects in the world find it hard to understand and break into the Japanese market. Ontology is hoping to work with gumi Cryptos to fill the gap and build a strong presence in the Japanese blockchain and crypto market.

Speaking on the partnership, Hironao Kunimitsu, Founder and CEO of gumi Inc., said, “the strategic partnership with Ontology will strengthen gumi’s presence in the crypto industry globally and deepen our understanding of the services and products that are based on blockchain technology. We are honored to be Ontology’s partner in Japan and look forward to more collaboration opportunities on Ontology’s Japan entry initiative, blockchain related investments and expanding the ecosystem together.”

Andy Ji, Co-Founder of Ontology, said that “gumi is a great example of the expansion from mobile games to blockchain technology. The partnership shows both gumi’s recognition of Ontology’s global strategy and its embrace of compliance and their support of our plan for blockchain and gaming. We look forward to working with gumi to help upgrade traditional industries in Japan, solve their pain points, thus improving the digital economy in the country.”

About gumi

Founded in 2007, gumi Inc. (Tokyo Stock Exchange: 3903) is a leading global mobile game publisher and developer headquartered in Japan, with overseas operations in Korea, Singapore, Taiwan, and the United States. The company has a proven record of success in launching titles worldwide, such as the widely popular role-playing games Brave Frontier and THE ALCHEMIST CODE. gumi Cryptos Inc. is the blockchain arm of gumi Inc. that mainly focuses on the blockchain related software, contents development, and investment business.

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