Animoca Brands Corporation Ltd’s Japanese subsidiary (Animoca Brands Japan) has raised a total of US$45 million from MUFG Bank and Animoca Brands, valuing the company at ~US$500 million (pre-money).
MUFG Bank is the largest bank in Japan, established in 2006 following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd.
Investment overview
Investor: MUFG Bank, Ltd.
Amount: US$22.5 million
Investor: Animoca Brands Corporation Ltd
Amount: US$22.5 million
Animoca Brands Japan will use the new capital to continue to secure licenses for popular intellectual properties, develop internal capabilities, and promote the adoption of Web3 to multiple partners.
MUFG Bank said it aims to contribute to enhancing the competitiveness of Japanese companies by leveraging its partnership with Animoca Brands Japan to support corporate customers in capitalising on the value of the content they hold and developing a safe and secure NFT environment.
Animoca Brands Japan
Web3 is characterised by data and other information being decentralised and distributed among various entities, enabling them to connect directly with each other.
Animoca Brands Japan was established in 2021 to support the adoption of Web3 among Japanese intellectual property (IP) and content holders.
The company enables famous IP holders in Japan to participate in the Web3 ecosystem while leveraging the network, reach, and expertise of Animoca Brands in contributing to the establishment of the open metaverse.