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- Animoca Brands is a metaverse and non-fungible token (NFT) investor.
- Its Japan division has raised 45 Million USD and reached 500M USD in valuation.
- Animoca Brands recently launched a DAO titled OMA3.
Animoca Brands Reaches 500M USD in Valuation
The Japanese division of Animoca Brands, a metaverse and NFT investor, has raised 45 Million USD to secure domestic investments and licenses, the organization said on Friday. This fundraise has increased the company’s valuation to 500 Million USD. Non-fungible tokens represent virtual ownership of digital or tangible assets.
Japan’s MUFG Bank, one of the biggest and oldest banks in the nation, and Animoca brands contributed to the fundraise on equal parts. As per an announcement during March, Animoca Brands and MUFB bank are thinking of joining hands.
The decision comes in spite of the Japanese authorities signaling an escalated focus on investor protection with stricter regulations. This involves a 30% tax on profit from cryptocurrency holdings, a latest regulation on stablecoin, and disagreement reports among the regulators and digital assets advocacy groups in the industry.
Animoca Brands has over 340 investments including Axie Infinity, Colossal, NBA Top Shot by Dapper labs, and the biggest NFT marketplace OpenSea.
OMA3 By Animoca Brands
Recently, Animoca Brands released a DAO dubbed OMA3 (Open Metaverse Alliance for Web3). As per the group, they will target prime challenges associated with the metaverse, involving the preserving the user-owned data. The Sandbox, Star Atlas, Decentraland, Dapper Labs, and Alien Worlds are the projects joining forces with this alliance.
Additionally to the Web3 projects already associated with the organization, the alliance includes blockchain gaming firm Upland, game and VR developer Space, and DAO structure Wivity.
The decision came following another announcement regarding a metaverse “alliance” dubbed Metaverse Standards Forums. Founding members in this cluster includes Sony, Alibaba, Meta (previously known as Facebook) and Microsoft — organizations not known for letting the people keep, much less transfer, the data liberally among the applications.
This DAO will utilize a different method. As per the official blog post by OMA3, they do not believe in walled metaverses, but in completely interoperable and interconnected virtual worlds. The organization says that every blockchain-based metaverse firms are invited to join forces with the alliance.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
