Game Developer Akatsuki Announces the creation of a $20 million web3 Fund
Japanese entertainment and gaming company Akatsuki said on Wednesday that it had raised a $20 million fund designed to invest in web3 projects.
The fund, dubbed Emoote, will support startups working on projects in GameFi, non-interchangeable tokens (NFT) and the metaverse, Akatsuki said in a press release.
The name Emoote was chosen to show that NFT consumption is based on "emotional values," Akatsuki added.
The company already has the experience to invest in crypto-related projects, having funded more than 20 startups at early stages, including the rapidly scalable startup Stepn.
Its investments are concentrated on 50% in Asia and 40% in the United States, and the rest of the funds are directed to other regions. The firm said the foundation will also focus its efforts on collaborating with Japanese entertainment and media companies.
Akatsuki is a company registered in Tokyo in 2010. She gained global recognition thanks to the joint development of the hit Dragon Ball Z: Dokkan Battle with Bandai Namco Entertainment. As of May 1, the game has been downloaded more than 350 million times worldwide.
Emoote follows several investors hoping to achieve great success with web3 projects. Earlier in May, venture capital firm Andreessen Horowitz launched a $600 million fund known as Games Fund One.
https://coin-signal.com/cryptonews/game-developer-akatsuki-announces-the-creation-of-a-20-million-web3-fund/
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