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HomeMetaverseAnimoca Brands partners with Coincheck to promote NFT and metaverse adoption

Animoca Brands partners with Coincheck to promote NFT and metaverse adoption

According to an October 4 press release, the top cryptocurrency exchange in Japan, Coincheck, and the Hong Kong-based venture capital firm and gaming software Animoca Brands announced a strategic partnership to promote widespread use of the metaverse and NFTs in Japan.

Prime Minister of Japan, Fumio Kishida announced on October 3 that the nation would encourage digital transformation via Web3, metaverse and NFTs.

Coincheck

The Japanese government is already taking steps to reduce tax costs, aware investor and digital exchange supervision, and invest in NFT and the metaverse.

As announced in a press note, both the firms aim to improve user experience and grow the metaverse and NFT communities.

The firms first partnered in 2020 to market the NFT and metaverse services to the general Japanese public. As their strategic collaboration grows. The businesses will provide premium NFTs, gaming and Metaverses products along with Web3 products.

As a maker of blockchain games, Animoca Brands will handle intellectual property (IP) management and content creation. While Coincheck in the Japanese market, will control distribution and community building.

Additionally, the Coincheck NFT marketplace will strategically assist Animoca Brands’ NFT projects.

The Coincheck NFT marketplace has listed and traded two NFT projects. It comprises Otherdeed NFTs in the Otherside metaverse and LAND NFTs in The Sandbox.

Additionally, Coincheck started building the brand-new metaverse cities “Oasis MARS” in Otherside and “Oasis TOKYO” in The Sandbox.

Animoca Brands co-founder and chairman, Yat Siu said, “Coincheck is an extremely vital strategic partner for Animoca Brands. We have developed a deep and trusted relationship via several open metaverse projects and we look forward to working together even more closely in the future.”

After Fumio Kishida was elected as Japan Prime Minister in October 2021, the use of the metaverse and NFTs has seen a massive growth in Japan. 

Apart from that, the administration under Kishida is trying to reduce tax burdens, improve investor safety and supervision of cryptocurrency exchanges, and make investments in NFT and metaverse.

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