The Japanese strategic subsidiary of Hong Kong-based blockchain unicorn Animoca Brands began operations on Tuesday, bridging the country’s distinctive intellectual property (IP) with the Web 3.0 ecosystem.
According to CryptoSlam statistics, the subsidiary Animoca Brands KK is developing a blockchain-powered platform for Japanese IP holders to launch Web 3.0 content such as non-fungible tokens (NFTs), a market that reached US$4.4 billion in total sales in January.
Popular video game IP owners in Japan, such as Bandai Namco, Square Enix, and Sega, have expressed interest in NFTs and the metaverse, but some have backed out due to public reaction.
Animoca Brands Japan secured approximately US$10 million in a seed round led by Tokyo-based MCP Asset Management last month.
With Animoca’s arrival into Japan, some of Japan’s most popular content will be able to participate in the NFT and metaverse movements.
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