Animoca Brands Japan, a blockchain investment subsidiary of Animoca Brands has invested JP¥100 million (approximately $780k at the time of reporting) in Psychic VR Lab. The investment is part of the Japanese extended reality (XR) company’s JP¥1 billion (approximately $7.8 million at the time of reporting) funding round raised in December 2022. Masahiro Yamaguchi is currently the CEO of Psychic VR Labs.
This is not the first time Animoca Brands Japan has backed Psychic VR Lab. In June last year, the two companies announced a collaboration for an urban-linked XR NFT art exhibition at NFT NYC. Psychic VR is the leader in XR experiences in Japan. The company operates STYLY, an XR creative platform used by more than 50,000 artists worldwide.
Kyoya Okazawa, the co-founder of Animoca Brands Japan, stated:
“Looking ahead, the possibilities of real space will be expanded by XR technology, and the value of all urban spaces such as buildings’ atriums and parks will increase with the addition of virtual versions. It will be possible to bring media and entertainment attributes into these spaces. Through this partnership, we will create new economic opportunities for these digital twins by connecting them with Animoca Brands’ global Web3 ecosystem of over 400 companies, and leverage content from our partner IP holders.”
