Animoca Brands Japan raises $45m to grow Web 3.0 business

Animoca Brands Japan raises $45m to grow Web 3.0 business

The Animoca Brands team in Hong Kong.

Animoca Brands, the Hong Kong-based crypto games and Web 3.0 investment company, is raising its stakes in Japan, with its local subsidiary raising $45 million in new financing at a pre-money valuation of about $500 million, the firm announced on Friday.

Animoca Brands Japan, which focuses on local partnerships for non-fungible token (NFT)-related business opportunities, secured half of the $45 million from Mitsubishi UFJ Financial Group (MUFG), Japan’s largest lender with a history of over 360 years. The parent firm, Animoca Brands, contributed to the other half of capital, according to a statement.

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