Animoca Brands Japan Raises $45M From Japan’s Largest Bank MUFG

Animoca Brands and MUFG Bank have backed Animoca Brands Japan’s $45 fundraising for the expansion of its digital IP portfolio.
Image source: Harry Liu/Twitter

Quick take:

  • Animoca Brands Japan has raised $45 million at a valuation of $500 million.
  • The fundraising was backed by Japan’s largest bank MUFG and Animoca Brands.
  • Animoca Brands Japan will use the funds to expand its IP portfolio.

Animoca Brands Japan has wrapped up a $45 million fundraising backed by its parent and Japan’s largest bank MUFG. Both companies have invested $22.5 million in the Japanese subsidiary.

The fundraising valued Animoca Brands Japan at $500 million pre-money. The company will use the funds to expand its digital IP portfolio.

Animoca Brands Japan is a strategic subsidiary of the Hong Kong-based blockchain investment giant, created to target NFT-related business opportunities and partnerships in Japan.

In March, MUFG Bank reached a principle agreement with Animoca Brands Japan to work on non-fungible token (NFT) projects as part of its web3 strategy.

“In order to revitalize the NFT market in Japan, it is necessary to develop an NFT environment where anyone can easily trade with peace of mind, just like daily purchasing activities,” Animoca Brands Japan wrote in a press release in March.

The company is targeting licenses for popular intellectual property and will also use the funds to develop internal capabilities and promote the adoption of Web3 in the country. 

Web3 is generally described as the next generation of the internet, which leverages emerging technologies like decentralised apps, blockchain, artificial intelligence and AR/VR to usher in the new age of virtual interactions in the metaverse.

Animoca Brands Japan wants to onboard more brands into web3 to the enhance value and utility of content whilst fostering the “development of a safe and secure NFT ecosystem in Japan.”

MUFG is one of the leading and oldest financial institutions in the world with a 360-year history. The company offers commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. 

The bank plans to combine its knowledge of customer networks and safe and secure transactions with Animoca Brands’ know-how on digital content and intellectual property rights acquisition to develop a secure NFT market in Japan.

“We will contribute to the development of a safe and secure NFT environment in line with the “WEB 3.0” era by considering the provision of services for purchase and storage, from support for NFT issuance and listing,” a Google-translated version of the March press release reads.

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