- Animoca Brands intends to open up the Japanese market to the global Web3 industry amid the country’s changing regulatory landscape.
- Animoca Brands began selling the De: Centralized Cat (D:CC) NFTs by Nine Chronicles M on the Coincheck marketplace at a floor price of 0.06 ETH beginning on April 3, 2024.
- The Japanese government has promoted the adoption of Web3 products while remaining tough on user protection.
Animoca Brands Japan, a subsidiary of the legendary Web3 investor Animoca Brands, unveiled an initiative to support global Web3 projects seeking to expand in Japan. Launched on Tuesday, April 3, 2024, the initiative by Animoca Brands Japan underpins the growing demand for digital assets around the world to hedge against unstable geopolitical tensions and rising fiat currencies’ inflation.
Animoca Brands has helped dozens of Web3 projects navigate through the complex global market with financial and technical support. Some of the web3 projects backed by Animoca Brands include The Sandbox (SAND), REVV Racing, Torque Drift 2, and Torque Squad, among others in the pipeline.
Animoca Brands and Japan’s Changing Web3 Industry
Since Animoca Brands KK was established in 2021, it has partnered with different organizations in Japan including Sun Hung Kai, MUFG, and Kodansha, among many others. As a result, Animoca Brands has established itself as a reputable web3 investor with a laser focus on the long-term haul.
As the first quarter of 2024 approached the tail end, Animoca Brands Japan assisted Blowfish Studios in undertaking the sale of its NFTs for the Phantom Galaxies blockchain game on the αU NFT marketplace. Following the tangible success, Animoca Brands Japan is now confident in ensuring more global web3 projects navigate through the Japanese market seamlessly.
Furthermore, the country’s Liberal Democratic Party through the Web3 project team (web3PT), has been working on various ways to develop the web3 industry through accommodative policies. Moreover, Japan’s Cabinet approved a bill in March to allow investment funds and venture capital firms to add crypto to the list of their asset holdings.
“Foreign companies and projects seeking to enter the Japanese Web3 market face several challenges resulting from Japan’s unique laws, business practices, language barrier, and other factors. Japan’s unique entertainment culture, including anime, manga, and games, which are considered to have a high affinity with Web3, have demonstrated strong appeal in the country and present attractive opportunities for overseas companies and projects,” the announcement noted.
Nine Chronicles M’s D:CC NFT Sale on Coincheck Marketplace
Beginning on April 3, 2024, Animoca Brands intends to sell 300 units of De: Centralized Cat (D:CC) NFTs on the Coincheck NFT marketplace at a floor price of 0.006 ETH. Notably, the D: CC NFTs are usable on the Nine Chronicles M blockchain game operated by Planetarium Labs and is available in over 150 countries.
According to the Planetarium Labs team, the D:CC NFTs sold by Animoca Brands, through the latest initiative to unveil global web3 projects in Japan, will allow the holder to benefit in several ways.
On the top list is that the D:CC NFT holders can earn unique tokens for staking their assets in the Nine Chronicles M game. Additionally, the D: CC NFT holders can use the digital artwork as an account profile image in the Nine Chronicles game and as an avatar for the respective character.
Meanwhile, the D:CC NFT sale will not be available to residents of certain jurisdictions, including the United States, the United Kingdom, and their sanctioned countries. Worth noting that Planetarium Labs raised $32 million in its Series A funding round led by Animoca Brands to build its portfolio of GamiFi products including the Nine Chronicles game.
