November 29, 2022

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Latest news in the crypto industry

Animoca Brands Eyes Massive Adoption With Strategic Partnership With Top Exchange

Hong Kong-based game software and venture capital company Animoca Brands and Japan’s leading crypto exchange Coincheck have strengthened their strategic partnership. The companies aim to drive massive adoption and user experiences of metaverse and NFTs in Japan.

On Monday, Japan’s Prime Minister Fumio Kishida announced promoting digital transformation through metaverse, NFTs, and Web3 in the country. The Japanese government is already working to ease tax burdens, increased crypto exchange and investor oversight, and invest in NFT and metaverse.

Animoca Brands and Coincheck Strengthens Strategic Partnership

Animoca Brands has further strengthened its strategic partnership with Japanese crypto exchange Coincheck to enhance user experience and develop metaverse and NFT communities, as per a press release on October 4.

The companies entered a partnership in 2020 to promote the metaverse and NFT products to the mainstream audience in Japan. With the strengthening of strategic partnership, the companies will offer premium NFTs, Metaverses, and gaming, as well as Web3 products.

Amonica Brands will manage intellectual property (IP) and content development as a blockchain gaming producer. Whereas, Coincheck will handle distribution and community development in the Japanese market. Also, Coincheck NFT marketplace will strategically support NFT projects from Animoca Brands.

Two NFT projects have been listed and traded on Coincheck NFT marketplace. It includes LAND NFTs in The Sandbox and Otherdeed NFTs in the Otherside metaverse.

In addition, Coincheck started development on the new metaverse city “Oasis MARS” in Otherside and the metaverse city “Oasis TOKYO” in The Sandbox.

NFTs and Metaverse Adoption in Japan

The metaverse and NFTs adoption have increased in Japan after Fumio Kishida became Prime Minister in October 2021. Moreover, the government under Kishida is working to ease tax burdens, increase oversight over crypto exchange and investor protection, and invest in NFT and metaverse.

On Monday, Japan’s Prime Minister Fumio Kishida announced promoting digital transformation through metaverse, NFTs, and Web3 in the country.

Source: CoinGape