Animoca Brands Corporation Ltd has begun operations in Japan, launching strategic subsidiary Animoca Brands KK (Animoca Brands Japan) and successfully completing a seed round of funding.
Animoca Brands Japan intends to build a blockchain-based platform to enable intellectual property (IP) holders within the country to issue their own NFTs and participate in the broader Web3 ecosystem while facilitating discussions with international markets.
In January this year, Animoca Brands Japan closed a seed round of ¥1.1 billion (approximately US$10 million) from MCP IPX One Fund, which was established by MCP Asset Management and Animoca Brands.
“Wealth of high-quality and appealing content”
“Japanese intellectual property includes a wealth of high-quality and appealing content,” Animoca Brands Corporation co-founder and executive chair, Yat Siu said.
“We are excited to establish Animoca Brands Japan and deeply honoured to bring on institutional capital from the world's most influential names in global Japanese culture, such as Kodansha and others.
“Our Japanese division will focus on partnering with IP owners in Japan to enable them to offer new Web3 products and services in the open metaverse.”
The Fund’s investors include Kodansha Ltd., Nishi-Nippon Railroad, as well as institutional investors from Japan and overseas including Sumitomo Mitsui Trust Bank, Limited.
Animoca Brands Japan will use the new capital to expand its business in Japan with the goal to enhance the reach of Japanese IP globally.
The Japanese subsidiary is based in Tokyo's Minato Ward and led by representative director Motoki Tani.
Before being named representative director for Animoca Brands Japan, Motoki was managing director and senior portfolio manager of Millennium Capital Management, where he was responsible for Japan Macro Strategy Investment.
About Animoca Brands
Animoca Brands describes itself as a leader in digital entertainment, blockchain and gamification that is driving digital property rights via NFTs and gaming to help build the open metaverse.
It develops and publishes a broad portfolio of products including the REVV token and SAND token; original games and products utilising hundreds of popular intellectual properties.
The company has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl and Lympo.