Japanese mobile gaming and entertainment firm Akatsuki <a href="https://www.techinasia.com/exclusive-japanese-gamemaker-akatsuki-launches-20m-fund-web3-projects-asia" target="_blank" rel="noopener">announced</a> Wednesday that it has raised a $20 million fund to focus on investing in web3 projects.

Dubbed Emoote, the corporate venture capital fund will look to back startups working in GameFi, non-fungible tokens (NFTs), and the metaverse. Its investment focus is 50% in Asia and 40% in the United States, with the remainder of funds being channeled towards other regions.

Since its establishment last year, Emoote has invested in more than 20 projects including STEPN, a move-to-earn lifestyle app with a fully diluted valuation of $20 billion in April, and BreederDAO, a GameFi NFT firm that creates and sells NFTs to game guilds which have counted Andreessen Horowitz and Delphi Digital as co-lead investors.
<blockquote><em>“We believe that digital fashion is likely to surpass physical fashion as a business as people increasingly spend more time in the virtual world not only with entertainment that includes games but also with other digital activities such as social media and metaverses – where physical constraints are removed,”</em> it said.</blockquote>
Akatsuki is a Tokyo-listed business first incorporated in 2010. It gained a global presence for co-developing the hit title Dragon Ball Z: Dokkan Battle with Bandai Namco Entertainment. The title has earned over 350 million downloads worldwide as of May 1.

Japanese Mobile Gaming Firm Akatsuki Announces $20M Web3 Fund

Japanese mobile gaming and entertainment firm Akatsuki announced Wednesday that it has raised a $20 million fund to focus on investing in web3 projects.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Japanese Mobile Gaming Firm Akatsuki Announces $20M Web3 Fund

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