Animoca Brands Japan Raises $45M from MUFG and Parent Company to Grow Web3 Businesses
- MUFG bank contributed $22.5 million while the parent company generated the remaining $22.5 million.
- Founded in 2021, Animoca Brands Japan focuses on the Web3 market including the metaverse and NFTs.
- Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
Animoca Brands Japan, a Japanese strategic subsidiary of global Web3 company Animoca Brands, has announced that it has raised a total of $45 million from MUFG Bank, Ltd. and Animoca Brands Corporation Limited. Following successful fundraising, Animoca Brands Japan is now valued at approximately $500 million.
According to the announcement, Animoca Brands Japan intends to channel that cash toward its Web3 businesses in Japan. Additionally, the company intends to secure licenses for popular intellectual properties, make more hirings, and develop the NFT ecosystem in the country.
Notably, MUFG bank contributed $22.5 million while the parent company generated the remaining $22.5 million.
Founded in 2021, Animoca Brands Japan focuses on the Web3 market including the metaverse and NFTs.
Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
Animoca Brands and the Web3 Industry
The Web3 industry is opening up the global markets to the extent that most local governments are not able to control. Remember, Web3 runs on decentralized blockchains that are easily accessible to most people around the world.
Animoca Brands is focused on the NFTs, GameFi, and metaverse industry. The three combinations make such a strong portfolio that most institutional investors are willing to back the company.
Notably, Animoca Brands began its presence in Japan with a seed round of $10 million, which bore the Japan subsidiary. As of April 30, 2022, the company reported an unaudited financial report that indicated it has digital assets worth $4.2 billion.
Additionally, the company indicated it has portfolio investments valued at over $1.5 billion across over 340 investments.
The company announced it holds various digital assets including USDC, USDT, BUSD, ETH, and BTC.
With a strong balance sheet, Animoca Brands has been making strategic acquisitions around the world. Among the notable acquisitions include Grease Monkey Games, Darewise, Eden Games, Notre Game, and Be Media.
The company’s Sandbox (SAND) projects are among the leading play-to-earn blockchain ecosystems. Notably, the Sandbox (SAND) is ranked 42 with a market capitalization of $1,422,027,963. The SAND token has been exchanging hands for around $0.96, down 2.6 percent in the past 24 hours.
As a venture capital, Animoca Brands has helped other companies raise funds for Web3 development. Last month, the company helped a Singapore-based Web3 gaming network developer, Planetarium Labs, raise $32 million.
Following its past success and potential for future growth prospects, the company has attracted skilled workers from around the world.
Mid-July, the chairman of Tencent Weibo, Liu Jiaming, officially resigned from his position in the company and joined Animoca Brands as Chief Business Officer.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
