August was certainly a good month Animoka and its subsidiaries. Just days after the NFT video game division received the Epic grant, the Japanese division closed its funding round.
as part of $500 million valuationAnimoka Brands Inc. has raised $45 million in funding from both parent company Animoka and Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank.
With this impressive valuation and funding round, Animoca Brands KK is now looking to dig deeper into the Japanese gaming sector. Given how profitable the Japanese market is with blockchain-based products such as GameFi and NFTs, this is a very strategic move.
At the same time, Japan’s domestic regulations regarding blockchain assets have yet to be elucidated. Just recently, a law was passed imposing his 30% corporate tax on crypto-related profits, including unrealized profits.
As you can imagine, this was pretty unpopular Japanese blockchain community It has even sparked discussions about the company exiting the Japanese market. But despite this, some are never deterred.
Animoca, in particular, is very active in developing blockchain-based assets and products, and has even signed an agreement with OpenSea, the world’s largest NFT marketplace.
Now that this funding round is complete, we can expect more projects to come from Animoca Brands KK.
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Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.