Animoca Brands Japan raises $45 million at a $500 million valuation
Animoca Brands KK (Animoca Brands Japan), focused on investing in metaverse and NFTs, has raised $45 million from the largest bank in Japan, MUFG Bank, and Web3 giant Animoca Brands Corporation Limited. The company, established in Tokyo in October 2021, is a valuation of $500 million.
The Japanese strategic subsidiary of Animoca Brands will use the funds for investments and to secure licenses for well-known intellectual properties, promote Web3 adoption, foster NFT development in Japan, and increase the value and add utilities to the branded content.
In February, Animoca Brands KK raised a $10 million seed round. In a press release from March, Animoca Brands Japan shared plans to work with MUFG on NFT projects:
“To revitalize the NFT market in Japan, it is necessary to develop an NFT environment where anyone can easily trade with peace of mind. Further development of the NFT market is expected by realizing customer protection against fraud, impersonation, and loss of content value due to speculative transactions in the NFT environment.”
MUFG has now invested $22.5 million toward the company and “aims to contribute to enhancing the competitiveness of Japanese companies by leveraging this partnership with Animoca Brands KK to support corporate customers in capitalizing on the value of the content they hold and developing a safe and secure NFT environment.”
Japan is adapting NFTs and the metaverse. However, the country isn’t friendly to cryptocurrency. It implements a 30% tax, while personal income tax can reach up to 55%.
There are over 340 investments in Animoca Brand’s portfolio, including OpenSea, Axie Infinity, Yield Guild Games, Harmony, Dapper Labs (NBA Top Shot), Colossal, and Star Atlas. In July, Animoca Brands raised $75 million at a $5.9 billion valuation.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
More articlesAgne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
