Animoca Brands’ Japan unit raises $45M at $500M valuation for | NFTs & DeFi 🗓
Animoca Brands’ Japan unit raises $45M at $500M valuation for NFT push
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. Japan isn’t the most crypto-friendly country. 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.
