Japan’s largest bank Mitsubishi UFJ invested $22.5 million in Animoka Brands Japanese subsidiary of NFT and Metaverse. Together with Animoka, the two companies have collectively invested $45 million at a pre-money valuation of $500 million. Animoka Brands Inc..
This announcement Strategic NFT partnership Launched between the two companies in March 2022. This investment Mitsubishi UFJ When Animoka There is a clear move towards capitalizing on the all-time peak of NFT popularity in Japan.
Undoubtedly, MUFG was attracted to work with Animoca because of the startup’s presence in the space and Animoca’s extensive investment experience in 340 metaverse companies.
Animoca has numerous joint ventures. one football When Planet HollywoodIts subsidiary, Sandbox, is the second largest metaverse on the Ethereum blockchain, hosting virtual worlds featuring celebrities such as: Gordon Ramsay When Paris HiltonI also like banks Standard Chartered When HSBC I bought a virtual property at sandboxAnimoca’s involvement in diverse metaverses means they have a wealth of experience available to further the objectives of this joint venture.
Still, MUFG is not slow to adopt blockchain technology. through the blockchain platform program matMUFG is placing a platform to allow itself and others to issue stablecoin When security tokenProgmat’s first utility token was launched earlier this month, giving users big discount At the shopping center Tokyo Dome City. Clearly, NFTs are the next blockchain-based product for banks to enter. How MUFG will incorporate his NFTs into its broader metaverse strategy remains to be seen.