Hong Kong blockchain-based gaming firm Animoca Brands said it has launched operations in Japan with its regional unit, Animoca Brands KK (Animoca Brands Japan).
Photo credit: Animoca Brands
The company’s Japanese unit has raised 1.1 billion yen (US$10 million) as part of its seed round from MCP IPX One Fund, which was set up by MCP Asset Management and Animoca Brands.
Animoca Brands Japan is building a blockchain-based platform to help intellectual property (IP) holders in the country build and expand fan communities via the issue of their own NFTs and fungible tokens, as well as promote participation in the broader Web3 ecosystem.
“Japanese intellectual property includes a wealth of high-quality and appealing content,” said Yat Siu, co-founder and executive chairperson of Animoca Brands. He added that the Japanese division will focus on partnering with IP owners in the country to help them offer new Web3 products and services in the open metaverse.
The Japanese unit will also work with global professionals to help Japanese IP holders branch out into international markets.
See also: Inside the tsunami of NFTs in India
Animoca Brands Japan is led by representative director Motoki Tani, who was the managing director and senior portfolio manager of Millennium Capital Management. He also previously headed yen bond trading at JP Morgan.
The establishment of the Japanese unit comes amid Animoca Brands’ push to boost the play-to-earn gaming ecosystem globally. The company recently partnered with VC firm Brinc to launch its Guild Accelerator Program.
Currency converted from Japanese yen to US dollar: US$1 = 115.30 yen.
Editing by Collin Furtado and Jaclyn Tiu
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