Digital technology has transformed life as we know it. A great deal of daily life is now lived on the digital landscape, and what once only existed in the realm of science fiction has become tightly intertwined with our day-to-day reality. Every sector of society hinges heavily on digital technologies and the products thereof.
But, with these advancements, new challenges have also arisen, particularly in the arenas of data security and traceability, as well as digital asset ownership. After all, how do you keep track of data in cyberspace and determine who really owns it?
These are questions that leading Web3 adviser, blockchain investor and operator Animoca Brands is set to answer as efforts to build Web 3.0, the third generation of the World Wide Web, grow. The Hong Kong-based unicorn is committed to creating a more equitable, secure digital framework and open metaverse by delivering digital property rights to the world’s gamers and internet users, thereby creating a new asset class and play-and- earn economies across industries spanning from gaming and entertainment to education through NFTs (non-fungible tokens).
“We’re a very unique company in that we want to facilitate the growth of the open metaverse,” shared Evan Auyang, Animoca Brands’ Group President. “We want to play the role as an ecosystem facilitator in contributing to growing Web3. Most importantly we think that by democratizing the internet via enabling true ownership of digital assets, we can grow the ecosystem such that everyone benefits from the shared network effects. This way, we believe that we can build true digital economies where engagement will be significantly higher and time spent in the open metaverse is rewarded fairly.”
While the company is entrenched in establishing Hong Kong as a hub for blockchain, gaming and cryptocurrencies in the Greater Bay Area region, it has a global footprint with over 340 investments across the United States, Europe and Asia. It most recently focused on solidifying its long-term commitment to Japan as one of the most important markets in the world for intellectual properties and culture. In 2021, Animoca Brands set up a subsidiary in Japan, Animoca Brands K.K., which just established a cooperative partnership with MUFG Bank in the NFT business. Animoca Brands K.K. will partner with some of the world’s most influential names in Japan and enable them to offer Web3 products and services in the open metaverse.
“Japan is one of the most important markets that we have. Its IP market and culture make it especially interesting; ultimately, NFTs represent culture because it’s a true asset with a permanent digital footprint. That’s why we have made this long-term commitment in Japan. We’re looking to partner with even more Japanese companies and IPs and invest even more in promoting the already very influential Japanese culture here.”