Blockchain studio Double Jump Tokyo nets $10M from SBI Investment, Sony, and others

PlayStation maker Sony and other investors have pumped $10 million into Double Jump Tokyo to finance the development of blockchain games.

Double Jump Tokyo said the investment round was led by Japanese venture capital firm SBI Investment with backing from Sony Group Corporation, Taisu Ventures, Gate Ventures, TM Capital, Bing Ventures, and a "high-profile entity that wished to remain anonymous."

"The capital will be deployed to further develop and support blockchain games, blockchain infrastructure, and related services, as well as to strengthen the company's organizational structure and talent base," reads a press release.

Double Jump is currently working with Ubisoft to "accelerate global web3 game adoption" with Champions Tactics. It also partnered with Sega to create Battle of Three Kingdoms, a blockchain title based on the Sangokushi Taisen franchise.

Blockchain and NFT projects have proven controversial in the video game industry, with detractors pointing to the speculative nature of the technology and environmental concerns. Yet, some major studios continue to flirt with a concept they feel can deliver "innovative" and "engaging" results in the right hands. 

Discussing the investment, SBI department manager, Kabuki Onishi, claimed Double Jump has a "consistent track record" of developing blockchain solutions that resonate with players. He said the company's latest project has the potential to become a "global success."

Kazuhito Hadano, general manager of the innovation fund office at Sony Group Corporation, offered a similarly glowing appraisal. He claimed Double Jump is poised to "drive the adoption of web3 across the entertainment industry."