Akatsuki- Game Developer Has Announced $20 Million Web3 Fund

Akatsuki, a Japanese entertainment and gaming company, announced on Wednesday that it has secured $20 million for a fund that will invest in web3 initiatives.

According to Akatsuki, the fund, dubbed Emoote, would look to back entrepreneurs working on projects in GameFi, non-fungible tokens (NFTs), and the metaverse.

Emoote was picked as a moniker to indicate that NFT consumption is based on “emotional values,” according to Akatsuki.

The company has a track record of investing in crypto-related initiatives, having backed more than 20 early-stage companies, including Stepn, a quickly scaling move-to-earn platform.

Its investment focus is 50% on Asia and 40% on the United States, with the rest of the money going to other areas. The fund will also focus on cooperating with Japanese entertainment and media organizations, according to the firm.

Akatsuki is a Tokyo-listed company that was founded in 2010

It rose to prominence after collaborating with Bandai Namco Entertainment on the smash blockbuster Dragon Ball Z: Dokkan Battle. As of May 1, the game had over 350 million downloads worldwide.

Emoote follows a number of investors hoping to hit it big through web3 projects. Earlier in May, venture capital firm Andreessen Horowitz launched a $600 million fund known as Games Fund One. 

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News