The Japanese unit of investor in non-fungible token (NFT) and metaverse projects, Animoca Brands, has concluded the raise of $45 million.

The investment to secure local licenses and investments gives Animoca Brands Japan a pre-money valuation of $500 million.

The $45 million capital was provided by one of Japan’s largest banks MUFG and parent company Animoca Brands, both investing 50% and hence confirming its partnership in Japan, which had been in the making for a few months.

Hong Kong based Animoca Brands has investments worth over $1.5 billion spread out over more than 340 investments. The firm is an early investor in Play-to-earn game hit Axie Infinity while also having invested in NFT marketplace OpenSea.

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