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Media & Entertainment

Hong Kong NFT startup taps Japan's intellectual property trove

Animoca lines up 50 projects, from anime to fashion, to expand content worldwide

Animoca's blockchain-based game "The Sandbox" lets users buy and sell NFTs as virtual real estate. (Photo courtesy of Animoca Brands)

TOKYO -- Hong Kong blockchain startup Animoca Brands is bringing its expertise in the booming nonfungible token market to Japan, looking to help companies turn content into digital assets that can be sold around the world.

The company on Tuesday announced the official launch of its Japanese arm. The unit, set up last October, has raised 1.1 billion yen ($9.5 million) from a fund jointly established with Tokyo-based MCP Asset Management. Investors include publishing giant Kodansha, Sumitomo Mitsui Trust Bank and Nishi-Nippon Railroad.

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