Astar Network, a gateway to take blockchain projects to Japan and more, announced a strategic investment from Animoca Brands to accelerate the growth of Web3 entertainment.
Animoca Brands wants to deliver digital property rights to consumers with the aim of helping to establish the open metaverse and its associated network effects. Animoca Brands has investments in over 540 companies, which is considered one of the broadest investment portfolios in the Web3 industry.
Astar and Animoca Brands will collaborate to advance the onchain deployment of Japanese and Asian intellectual property (IP) for global Web3 adoption, with a focus on scalable entertainment solutions. Key integrations, including Anime ID (powered by Animoca’s Moca Network and its partner San FranTokyo), will serve as a premier identity and reputation layer on Soneium.
Astar’s mission to advance Web3 adoption by enabling developers, creators and enterprises to build onchain entertainment solutions is further supported by the collaboration and the investment from Animoca Brands.
Astar’s commitment to entertainment innovation is bolstered by initiatives such as the Anime Art Fest on Soneium, an IP and creator-focused campaign brought to Soneium by San FranTokyo and Animoca Brands to onboard users to Web3. By prioritizing entertainment and mass adoption, Astar and Animoca Brands aim to create new opportunities for artists, developers and digital creators, further establishing Astar as a hub for entertainment projects.
Since its inception, Astar has focused on bridging Web2 and Web3 to enable blockchain adoption. Astar’s integration of Soneium, an Ethereum Layer 2 open blockchain developed by Sony Block Solutions Labs, marks a significant milestone, strengthening Astar’s growth.
The Astar (ASTR) token is at the heart of the expansive Astar ecosystem (including Soneium) driving liquidity and engagement. By enabling funding, supporting innovation and attracting new users through incentivized DApps, ASTR reinforces its role as the unifying token across the ecosystem.
Yat Siu, executive chairman and co-founder of Animoca Brands, said in a statement, “Our investment in Astar Network aligns perfectly with our mission to advance digital property rights and the open metaverse. Astar’s focus on onchain entertainment IP, particularly in Japan and Asia, presents a unique opportunity to accelerate global Web3 adoption. By combining Astar’s strong ecosystem with our extensive portfolio and experience, we’re poised to unlock new possibilities for creators, developers, and users in the rapidly evolving Web3 entertainment landscape.”
“We are excited to receive investment from Animoca Brands and collaborate on generating greater value in the Astar and Soneium ecosystems,” said Sota Watanabe, founder of Astar Network, in a statement. “As one of the most active investors in the Web3 space, Animoca Brands understands the direction the ecosystem is heading, and we take their support as confirmation that our efforts are contributing to the long-term success of blockchain and digital assets.”
With an eye on incorporating some of the most popular and paradigm-shifting concepts in the world of crypto, this collaboration will work to advance the Web3 entertainment industry and drive engagement on Soneium. This includes possible initiatives around exploring the creation of a fund focused on IP and entertainment narratives, a move that has caught the attention of institutional investors.
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