The popular Japanese Web3 game firm Animoca Brand Japan has completed its latest funding round. The web3 firm raised about $45 million from MUFG Bank, Ltd and Animoca Brands Corporation Limited.
Animoca Brand Japan is now worth about $500 million with this funding round which will be invested in the Japanese web3 industry. The firm also intends to obtain licenses for its numerous intellectual properties. Similarly, Animoca brands Japan is making efforts to engage more people and expand the NFT ecosystem within the country.
According to reports, MUFG bank raised $22.5 million in the funding round, while Animoca Brands Limited, the parent company of Animoca Brands Japan, contributed the remaining $22.5million. Animoca Brands Japanese was established in 2021. It concentrates on the Web3 industry, including the metaverse and NFT.
Animoca Brand is exploring its investments to gain ground
Over the years, the Animoca brand has capitalized on over 340 investments. Its investments include Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
Animoca Brand made its debut in Japan with a seed funding round of $10 million. In April 2022, it announced an unaudited financial report that revealed its digital assets worth $4.2 billion. The firm focuses on NFTs, GameFi, and Metaverse industry.
Recently, the brand raised over $1.5 billion through its investments. Some of the existing assets of the protocol include USDC, USDT, BUSD, ETH, and BTC. The Animoca brand is planning to enhance its strategic acquisitions within the industry. The company has acquired Grease Monkey Games, Darewise, Eden Games, Notre Games, and Be Media.
Animoca’s Sandbox (SAND) project is one of the leading play-to-earn blockchain ecosystems. The native token of the project, SAND, currently enjoys a market capitalization of $1,422,027,963. As of press time, it is reportedly valued at about $0.96.
Animoca Brands, in recent times, assisted various firms in raising funds. As venture capital, it helped a Singapore-based Web3 gaming network, Planetarium, to raise funds last month. It also raised over $46 million for Gunzilla, an independent AAA game studio. Gunzilla intends to use the funds to develop its new platform, GunZ.
With GunZ, gamers can complete ownership of their in-game possessions. Other participants include Griffin Gaming partners, Animoca Brands, Jump Crypto, Raptor Group, CoinFund, Shima Capital, and many others.
Animoca Brands has attracted various experts around the world. Recently, the chairman of Tencent Weibo, Liu Jiaming, resigned to join Animoca Brands as Chief Business Officer.
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