"Asia’s crypto games and web3 investment powerhouse Animoca Brands is making inroads into Japan as its local unit picks up $45 million in financing at a $500 million pre-money valuation."

"The investment, which was shelled out equally by the parent firm Animoca Brands and MUFG Bank, the largest bank in Japan with 360 years of history, comes at a time when the country is tightening regulations around the crypto industry."

"Currently, it imposes a 30% corporate tax on profit from cryptocurrency holdings, including unrealized gains, a policy that has triggered a blockchain brain drain and pleas by local crypto startups to lower tax rates."

"But with its troves of successful anime, manga, video games, movies and musicians, Japan is still a place to be for NFT services scouring for IPs."

"“secure licenses for popular intellectual properties, develop internal capabilities and promote adoption of Web3 to multiple partners, increasing the value and utility of their branded content while fostering the development of a safe and secure NFT ecosystem in Japan,”"