Animoca Brand’s Japan subsidiary raises US$45 Mln to invest in NFT

Animoca Brands KK, the Japanese unit of Hong Kong blockchain investment firm Animoca Brands, Friday said it raised US$45 million from the world’s second-largest financial group Mitsubishi UFJ Financial Group (MUFG), and parent Animoca Brands.

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Fast facts

• MUFG and Animoca Brands each invested US$22.5 million, valuing the Animoca Brands Japan company at a pre-money valuation of US$500 million, a press release said. 

• Animoca Brands Japan said the new capital will be used for investing in popular intellectual properties’ licenses, developing the company, promoting NFT adoption, and building a network for the NFTs.

• In March 2022, MUFG and Animoca Brands KK announced a collaboration in developing the NFT ecosystem in Japan.

• Animoca Brands KK was established in October 2021, and announced in February that it had raised 1.1 billion yen (US$10 million) in the seed round.

• Animoca Brands announced in July this year that it had raised US$75 million in its latest funding round, raising the company’s valuation to US$5.9 billion.

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