Japan’s largest bank MUFG has invested $22.5m into Animoca Brands’ Japanese subsidiary for NFTs and the metaverse. Together with Animoca, the two companies have collectively invested $45m at a claimed $500 million pre-money valuation into Animoca Brands KK.
This announcement comes off the back of a strategic NFT partnership launched between the two companies in March 2022. The investment signals that MUFG and Animoca are tangibly moving towards capitalizing on the all-time peak of NFT popularity in Japan.
Doubtless, MUFG was attracted to working with Animoca, given the startup’s presence in the space and Animoca’s prolific investing experience in 340 metaverse companies.
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