Animoca Brands Corporation Ltd's Japanese subsidiary has made a strategic investment of JP¥100 million into Psychic VR Lab’s JP¥1 billion fundraising round in December 2022.
The investment followed a collaboration with Psychic VR Lab in June 2022.
With the vision of ‘realising the world where people wear a space’, Psychic VR is a leader in the XR (extended reality) field in Japan, operating the XR creative platform “STYLY” that is used by more than 50,000 artists worldwide with a viewer app that has been downloaded 5 million times.
It has become an important part of infrastructure in the XR era, where the vanimoirtual world and the real world merge.
Web3 ecosystem of over 400 companies
Animoca Brands Japan co-founder Kyoya Okazawa said: “Looking ahead, the possibilities of real space will be expanded by XR technology, and the value of all urban spaces such as buildings’ atriums and parks will increase with the addition of virtual versions.
“It will be possible to bring media and entertainment attributes into these spaces.
“Through this partnership, we will create new economic opportunities on these digital twins by connecting them with Animoca Brands' global Web3 ecosystem of over 400 companies, and leverage content from our partner IP holders.”
‘Real Metaverse’
Psychic VR Lab CEO Masahiro Yamaguchi said: “With the investment from Animoca Brands, a leader in the Web3 ecosystem, we are going to accelerate the creation of ‘Real Metaverse’ with our real metaverse platform STYLY.
“We believe that the evolution of technology in the XR / Web3 field will not only change the structure of modern society, but will also fundamentally change people's lifestyles as a movement of world creation in the history of mankind.
“We hope to play a great role in this major turning point of history.”
Aiming to build a Web3 ecosystem
Animoca Brands Japan is advancing the mission of Animoca Brands Corporation Limited and aims to build a Web3 ecosystem in Japan with partner companies and portfolio companies such as Psychic VR Lab.
Like its parent company, Animoca Brands Japan envisions Web3 as a more equitable virtual society thanks to its characteristic of enabling true digital ownership for individuals, which the company believes offers significant economic opportunities in Japan and beyond.
Animoca Brands Japan intends to continue contributing to the advancement of Web3 by making strategic investments in the industry.