Animoca Brands KK raises US$45m from investors including MUFG Bank

Animoca Brands KK (Animoca Brands Japan), a strategic subsidiary of Hong Kong blockchain company Animoca Brands, has raised US$22.5 million from MUFG Bank, Japan’s largest bank, to develop its Web3 business.

The fund was matched by a new investment of the same amount from Animoca Brands, making up a total of US$45 million in this round of investment. Animoca Brands KK’s estimated value is about US$500 million.

Animoca Brands Japan will use the new capital to continue to secure licenses for popular intellectual properties, develop internal capabilities, and promote adoption of Web3 to multiple partners, Animoca Brands said on August 26.

The efforts are aimed at increasing the value and utility of their branded content while fostering the development of a safe and secure NFT ecosystem in Japan, the company said. 

Animoca Brands KK was established in October 2021. In January 2010, the company raised a seed round of US$5 million each from the IPX1 fund set up by MCP Asset Management and Animoca Brands. The IPX1 fund included Kodansha, Nishinippon Railways, Sumitomo Mitsui Trust Bank and others.

In March 2022, Animoca Brands KK and MUFG announced that they were considering a collaboration in NFT-related business, utilising Animoca Brands KK’s expertise in digital content and IP rights and NFT market management and MUFG’s customer network and knowledge of financial transactions.

Business opportunities being considered ranged from support for issuing and exhibiting NFTs, to providing identity verification and safe custody services for assets when buying and selling, as well as operating a trading market.