Animoca Brands’ Japanese subsidiary announced that it has raised a total of US$45 million to increase the value and utility of its branded content while fostering the development of a safe and secure NFT ecosystem in the country.
The investment came in equal parts from its parent company Animoca Brands and Japan’s largest bank MUFG.
Animoca Brands Japan has been considering a collaboration with MUFG for NFT related business opportunities, according to a March announcement.
The recent fundraise has pushed the company’s pre-money valuation to approximately US$500 million.
Animoca Brands Japan said that it will use the new capital to continue to secure licenses for popular intellectual properties, develop internal capabilities, and promote adoption of Web3 to multiple partners.
The Japanese arm was established in 2021 to support the adoption of Web3 among Japanese intellectual property (IP) and content holders.
Animoca Brands Japan enables famous IP holders in the country to participate in the Web3 ecosystem while leveraging the network, reach, and expertise of Animoca Brands in contributing to the establishment of the open metaverse.
