Today Hong Kong web3 startup Animoca Brands announced a memorandum of understanding with Mitsui & Co as a strategic partner and investor. Animoca is known for its prolific investments in more than 450 companies as well as starting several educational, metaverse and gaming initiatives including The Sandbox.
The amount of the investment was not disclosed and appears to be an investment in the holding company although Mitsui & Co said the collaboration will mainly target Japan. Last year Japan’s largest bank MUFG invested $22.5 million in Animoca’s Japanese subsidiary.
One might expect the Animoca/Mitsui partnership to focus on gaming and education. However, in addition to businesses that accelerate the adoption of web3, they mention developing collaborative businesses across a variety of fields including “wellness and decarbonization/carbon credits.”
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