The Japanese subsidiary of the blockchain and gamification company Animoca Brands has raised $45 million to secure local licenses and investments “for NFT-related business opportunities”, with a pre-money valuation of up to $500 million.
The investment was made equally by Animoca Brands and MUFG Bank, Japan’s largest bank with a history of 360 years.
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It plans to use the new funds to “develop internal capabilities and promote Web3 adoption to multiple partners, increasing the value and utility of their branded content while fostering the development of a safe and secure NFT ecosystem in Japan.”
