Animoca Brands Japan raised $ 45 million, valued at $ 500 million before the fundraising round
Blockchain game development company Animoca Brands is "expanding" more strongly in Japan when its subsidiary in this country has just raised $ 45 million with a pre-money valuation of $ 500 million.
An investment of $45 million came from parent company Animoca Brands and one of the oldest and largest banks in Japan With 360 years of history, MUFG Bank. In fact, Animoca Brands Japan and MUFG Bank have established a cooperative relationship since March 2022.
This move comes right after Animoca Brands successfully raised $75 million at a valuation of $5.9 billion in July 2022, as well as established a DAO to develop standards for the entire real estate metaverse industry. Despite the downturn in the general market, there is still no sign of recovery.
On the other hand, considering the Japanese market alone, this event also creates a certain highlight because Japanese regulators are increasing their focus on investor protection with regulations. more closely with crypto. The current one is the move to impose a 30% tax on profits from holding crypto and a somewhat draconian regulatory framework for the stablecoin segment.
However, perhaps with the field that Animoca Brands is developing, mainly towards blockchain game/metaverse/NFT that is closely related to anime, manga and video games inherently associated with literature Widespread mass-marketing in Japan has become an important reason for Animoca Brands Japan to gain traction from traditional "big boys" like MUFG Bank.
However, although the regulations surrounding the crypto legal picture in Japan are becoming more tense than before, the wave of blockchain adoption in this country has not been reduced, even more vibrant. since the beginning of 2022.
Especially NFT, a series of leading companies in the country of cherry blossoms have officially entered this field, including the "big" e- commerce Rakuten and messaging app LINE. In addition, MUFG Bank itself has started stablecoin development, Japan's largest investment bank Nomura – established a subsidiary in charge of crypto business next to Japan metaverse association that was established at the end of 2021
Crypto Fox News Summary
Aug 26, 2022