Animoca Brands Japan invests in Psychic VR Lab, raising $7.8 million

Animoca Brands Japan invests in Psychic VR Lab, raising $7.8 million - Geek Metaverse

Animoca Brands Japan, a subsidiary of Animoca Brands that invests in blockchain, has invested 100 million yen ($780,000) in Psychic VR Lab.

The investment is part of the ¥1 billion ($7.8 million) funding round raised by the Japanese extended reality (XR) company in December 2022.

Animoca Brands and Psychic VR Lab

Psychic VR is a leader in XR experiences in Japan. The company manages STYLY, an XR creative platform used by more than 50,000 artists worldwide. According to Friday’s press release, the STYLY visualization app has been downloaded more than 5 million times.

At the June 2022 collaboration, STYLY, Animoca Brands Japan, UCOLLEX and MADWORLD introduced the startup’s XR technology, which allows it to overlay XR art onto real space, creating immersive experiences with a smartphone and selling digital XR art as NFT.

This investment hastens Animoca Brands’ task in Japan to construct a web3 environment through partnerships.

Kyoya Okazawa, co-founding father of Animoca Brands Japan, commented on the investment, “Going forward, the opportunities of actual space will be increased with XR era, and the price of all city spaces, including building lobbies and parks, will boom with the addition of virtual versions. It could be viable to introduce media and leisure attributes into these areas. Through this partnership, we are able to create new financial possibilities in these virtual twins through linking them to Animoca Brands’ worldwide Web3 atmosphere of greater than 400 agencies and leveraging content from our partners’ highbrow property owners.”

For his part, Masahiro Yamaguchi, CEO of Psychic VR Lab, sees this investment by Animoca Brands Japan as an opportunity to accelerate the company’s strategy of creating the “Real Metaverse” through its leading metaverse platform “STYLY.”

“We consider that the evolution of era inside the XR / Web3 field will now not most effective trade the shape of modern-day society, however also people’s life-style as a world-creating motion in human records. We hope to play an important role in this historic turning factor,” Yamaguchi delivered.

This isn’t always the first time Animoca Brands Japan has supported Psychic VR Lab. In June ultimate year, the 2 groups announced a collaboration for an XR NFT art exhibition at the NFT in New York.

Animoca Brands and its moves on the Web3

Recently, Animoca Brands introduced the launch of the reputable NFT Mocaverse series. The Profile Picture (PFP) member series functions eight,888 NFT characters divided into five tribes: Dreamers, Builders, Angels, Connectors and Neocapitalists.

A few months ago, Animoca Brands acquired a majority stake in Pixelynx, Inc (“PIXELYNX”) through its subsidiary.

They then partnered with Cool Cats Group and Onefootball Labs to launch the new 4,000 NFT ‘Cool Cats FC’ collection on the Ethereum blockchain.

In addition, they collaborated with 3D printing pioneer Arevo, Inc. to produce a line of custom carbon fiber bicycles inspired and decorated with individually owned NFT artwork.

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