Animoca Brands Founder and Board Chairman Yat Siu
Animoca Brands KK has raised a total of US$45 million from MUFG Bank and Hong Kong-based parent Animoca Brands Corporation.
Animoca Brands KK is a strategic subsidiary focusing on cooperative partnerships in Japan for NFT-related business opportunities.
The new round brings the Japanese subsidiary’s valuation to approximately US$500 million (pre-money).
Also Read: Web3 is going to redefine labour in Asia in a big way: Animoca Brands’s Yat Siu
The subsidiary will use the new capital to secure licenses for popular intellectual properties, develop internal capabilities, and promote the adoption of Web3 to multiple partners. A portion of the money will also go into increasing the value and utility of its partners’ branded content while fostering the development of a safe and secure NFT ecosystem in Japan.
Established in 2021, Animoca Brands Japan supports the adoption of Web3 among Japanese IP and content holders. It enables famous IP holders in the country to participate in the Web3 ecosystem while leveraging the network, reach, and expertise of Animoca in contributing to establishing the open metaverse.
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is a financial group with a global network in approximately 2,400 locations in more than 50 countries. The Group has about 170,000 employees and offers commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing services.
The parent company develops and publishes a broad portfolio of products, including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilising popular IPs including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP, and Formula E.
Also Read: Animoca Brands banks US$75M+ more to fund strategic acquisitions, investments
Its subsidiaries include The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, and Be Media.
Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others.
In July this year, Animoca Brands completed a capital raise of US$75.32 million. It was the second tranche of the US$359 million funding round led by Liberty City Ventures announced on 18 January 2022.
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Image Credit: Animoca Brands.
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