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Animoca Brands Japan raises $45 million to expand its Web3 business

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Animoca Brands Japan raises $45 million to expand its Web3 business

Animoca Brands, a leader in Web3 investments and crypto games in Asia, is expanding in Japan thanks to its local company securing $45 million in capital at a $500 million pre-assessment. Animoca Brands KK, a business strategy subsidiary of Animoca Brands Corp. Ltd., raised a total of $45 million from MUFG Bank Limited and Animoca Brands Co. Ltd., valuing the company at around $500 million. The Company focuses on cooperative partnerships in Japan for NFT-related investment opportunities. According to the March 3, 2022 press release, Animoca Brands Japan plans to work with MUFG to pursue its business potential in the NFT sector.

Japan is not very welcoming to cryptocurrencies, and it now taxes profits from cryptocurrency assets, especially unrealized gains, at a corporate tax rate of 30%. The practice has triggered a shortage of blockchain skills and calls for a reduction in tax rates for local crypto businesses.

But Japan continues to be a destination for NFT vendors looking for IP addresses due to its vast collection of anime, comics, video games, movies, and popular singers.

With this additional funding, Animoca Brands Japan will be able to expand its existing capacity, license well-known IPs, and encourage many partners to apply Web3, increasing the importance and usability of their content marketing. and promoting the growth of a safe and trustworthy NFT ecosystem in Japan.

The idea behind the next iteration of the Internet is called Web3. It is defined by the decentralization and distribution of data and other information between many entities, allowing them to communicate directly with each other.

Description of the investment:

  • MUFG Bank, Ltd. – 22.5 million US dollars.
  • Animoca Brands Corporation Limited. – $22.5 million.

To promote acceptance of Web3 among Japanese intellectual property (IP) and content owners, Animoca Brands was founded in 2021. Famous IP owners in Japan can now participate in the Web3 ecosystem through Animoca Brands Japan , which also uses its network, reach, and skills to help build the public metaverse. One of the world’s leading financial organizations is Mitsubishi UFJ Financial Group, Inc. (MUFG). With headquarters in Tokyo and over 36 decades of history, MUFG has over 2,400 branches in more than 50 countries. The group employs around 170,000 people and offers a variety of services including leasing, wealth management, commercial banking, fiduciary financial services, equities and consumer lending.

The Group’s mission is to serve society and promote shared and sustainable socio-economic development for a better future through strong cooperation between its operating companies and flexible responses to all the financial requirements of its customers. On the stock exchanges of Nagoya, Tokyo and New York, MUFG shares are traded.

A pioneer in interactive content, blockchain and games seeking to improve digital property rights and support the creation of the open multiverse is Animoca Brands, a Deloitte Tech Fast champion listed on the Financial Times list of Asia-Pacific High Growth Companies. Pacific 2021.

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