Animoca Brands Japan announced today that it received US$45 million from Mitsubishi UFJ Bank (MUFG) and Animoca Brands Corporation Limited to expand its Web3 business. The strategic subsidiary of Animoca Brands Corporation Limited concentrates on cooperative relationships in Japan for NFT-related commercial prospects. By securing licenses for well-known intellectual assets, building internal capabilities, and encouraging the use of Web3 across numerous partners, Animoca Brands Japan will increase the value and utility of their branded material while supporting the growth of a secure NFT ecosystem in Japan. Web3 Adoption In Japan Animoca Brands Japan, whose parent company has supported OpenSea, the world’s largest NFT platform, plans to use the new funds to “secure licenses for popular intellectual properties. Furthermore, to develop internal capabilities and promote the adoption of Web3 to multiple partners, increasing the value and utility of their branded content amid fostering the development of a safe and secure NFT ecosystem in Japan. Bank of Tokyo-Mitsubishi and UFJ Bank Merger The Bank of Tokyo-Mitsubishi and UFJ Bank merger resulted in the creation of MUFG, although it’s not the only financial organization in Japan that support NFTs. With technical assistance from blockchain startup HashPort, banking behemoth Sumitomo Mitsui Banking Corp said in July that it intends to establish a “Token Business Lab” that will offer c...
