Blockchain gaming company Animoca Brands has announced a strategic partnership with Japanese web3 company Matsui.
Animoca and Matsui’s partnership has been formed by an unspecified strategic investment that will lead to the companies pushing for web3 adoption and useage in the Japanese market. The two companies will “aim to create new business that contributes to innovation and the uptake of web3 in the Japan market, by utilising Mitsui’s extensive assets ranging from industrial businesses to consumer businesses, as well as its extensive partner and customer networks.”
According to the announcement “Looking ahead, Mitsui and Animoca Brands will work together to provide solutions for societal issues by accelerating the development of their strategic partnership, such as through the development of collaborative businesses and the establishment of joint ventures in diverse fields, including the application of blockchain technology in wellness and decarbonization/carbon credits.”
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The move to Japan is not unexpected as Animoca Brands recently announced their intention to move away from the American market and into the broader global market. Animoca’s move was attributed to the “blockchain-hostile” nature of US legislation in an ongoing crypto-crackdown.
“The SEC focuses on the US, so that should not have an impact on Animoca Brands in broader markets where Sand is widely available and accepted, including in more progressive jurisdictions like Hong Kong and Japan,” co-founder and chairman Yat Siu said at the time.
This move then, best represents Animoca's strategy in the near and long-term. Although Japan has been relatively welcoming to blockchain technology, that has not stopped authorities from cracking down in the past, and it seems part of this strategy will be to lobby for greater adoption and a so-called “national strategy” for web3 in partnership with Matsui.
We listed Animoca Brands as one of the top 50 mobile game makers of 2022.