Aditya Hadi Pratama · · 1 min readAnimoca pours $780k into Japanese metaverse firm
The Japanese unit of blockchain firm Animoca Brands has poured 100 million yen (around US$780,000) into local metaverse startup Psychic VR Lab. The deal is part of the US$7.8 million funding round that was raised by the latter in December 2022.
Image credit: Psychic VR Lab
Founded by Masahiro Yamaguchi in 2016, Psychic VR Lab’s main offering is a virtual reality space builder called Styly. With the product, users can build virtual and mixed reality worlds that they can then share with anyone using supported devices.
The firm said that its platform has been used by more than 50,000 artists globally. In June last year, the metaverse platform partnered with Animoca Brands Japan to host an art exhibition at NFT NYC.
Psychic VR Lab plans to use the funding for product development purposes.
Additionally, Animoca Brands Japan co-founder Kyoya Okazawa said that the deal will connect Psychic VR Lab with the blockchain major’s Web3 ecosystem of more than 400 companies.
See also: Animoca looks to forge metaverse rules with Web2 giants amid war of words
Currency converted from Japanese yen to US dollar: US$1 = 128.25 yen.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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