In a significant move towards advancing digital property rights and embracing the Web3 revolution, Mitsui & Co., Ltd., and Animoca Brands have announced a strategic partnership. The partnership aims to create new business opportunities that contribute to innovation and promote the adoption of Web3 technology in the Japanese market.
Web3, the decentralized iteration of the internet powered by public blockchain technology, has garnered immense interest in Japan. With the Japanese government and the Japan Business Federation (Keidanren) advocating for Web3 as a national strategy, Mitsui and Animoca Brands aim to capitalize on this momentum.
Mitsui, one of the largest trading companies in Japan, brings its extensive expertise in business development and global networks to the partnership. Having fostered diverse industrial fields and prioritized digital transformation, Mitsui is well-positioned to leverage its vast assets, partner networks, and customer base.
Headquartered in Hong Kong, Animoca Brands is a pioneering force in practical Web3 business initiatives, leveraging digital assets and blockchain technology. With an impressive portfolio of over 450 investments in Web3-based services, including web protocols, infrastructure, blockchain gaming, and metaverse players, Animoca Brands has established a unique ecosystem.
Together, Mitsui and Animoca Brands intend to collaborate on solving societal challenges by accelerating their strategic partnership. This will involve the development of collaborative businesses and the establishment of joint ventures across various fields, including the application of blockchain technology in wellness and decarbonization/carbon credits.
The partnership signifies a remarkable union between Mitsui’s multinational reach, vast resources, and Animoca Brands’ expertise in digital entertainment, blockchain, and gamification. By pooling their strengths, both companies aim to spearhead the adoption of Web3 in Japan and foster innovation in the digital landscape.