Animoca Brands Strengthens CoinCheck Partnership In New Web3 Promo

Animoca Brands has made a strategic investment in CoinCheck as part of a deal that strengthens its relationship with the Japanese crypto exchange platform.
Image source: Animoca Brands

Quick take: 

  • Animoca Brands has strengthened its relationship with CoinCheck.
  • The Hong Kong-based company has collaborated with the Japanese bitcoin wallet and exchange services provider in a new promo campaign for web3.
  • Animoca will advance CoinCeck’s IP portfolio while CoinCheck will help onboard new users.

Animoca Brands announced a new collaboration with the Japanese bitcoin wallet and crypto exchange services provider CoinCheck. The partnership is part of a new strategy that strengthens the Hong Kong-based blockchain investment firm’s web3 initiatives in Japan.

According to the agreement, Animoca Brands will spearhead content development and intellectual property while CoinCheck will be responsible for distributing the content and onboarding users.

Commenting on the partnershi[p, Animoca co-founder and chairman Yat Siu said: “It is a privilege to enhance our collaboration with Coincheck and deliver more premium NFT, metaverse and gaming projects to the mainstream audience in Japan.”

According to Siu, CoinCheck’s market reach in the Asian nation makes it an important partner as Animoca Brands continues to extend its footprint in the country.

“We have built up a deep and trusted relationship through several open metaverse projects and we look forward to working together even more closely in the future,” Siu added.

CoinCheck will support NFT projects by Animoca Brands through the CoinCheck NFT marketplace, launched in March 2021. Animoca Brands’ range of portfolio companies will also benefit from this partnership, giving them access to the Japanese market. Some of the early beneficiaries of this partnership include LAND NFTs from The Sandbox and Otherdeed NFTs from Yuga Labs’ Otherside metaverse.

The two companies are also looking to expand product offerings on Oasis Tokyo, announced in January this year. The metaverse-based city is a collaboration of CoinCheck and The Sandbox.

The Japanese exchange platform is accelerating the development of the city to open it to the public in the near future.

Coincheck managing executive officer and lead of new Web3 businesses Kensuke Amo said: “We are very pleased to be working with Animoca Brands, a leading company in the NFT industry, to advance mass adoption based on the trust we have built up over the years. The GameFi projects that Animoca Brands is developing have incredible potential. By strengthening our partnership, we hope to be a bridge to the Japanese market for both NFT and fungible token projects to boost the Web3 industry.”

The two companies are also looking build communities for both creators and users as part of accelerating the adoption of web3 in the region.

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