Astar Network, a gateway to take blockchain projects to Japan and more, announced a strategic investment from Animoca Brands

Animoca Brands wants to deliver digital property rights to consumers with the aim of helping to establish the open metaverse and its associated network effects.

Blockchain interoperability protocol Astar Network has secured an investment from Animoca Brands to aid in the advancement of Web3 entertainment.

Animoca Brands is investing in Astar to help in the onchain deployment of Japanese and Asian intellectual property (IP) for global Web3 adoption, with a focus on scalable entertainment solutions. Key integrations, including Anime ID (powered by Animoca’s Moca Network and its partner San FranTokyo), will serve as a premier identity and reputation layer on Soneium.

Astar’s mission to advance Web3 adoption by enabling developers, creators and enterprises to build onchain entertainment solutions is further supported by the collaboration and the investment from Animoca Brands.

Astar’s commitment to entertainment innovation is bolstered by initiatives such as the Anime Art Fest on Soneium, an IP and creator-focused campaign brought to Soneium by San FranTokyo and Animoca Brands to onboard users to Web3. By prioritizing entertainment and mass adoption, Astar and Animoca Brands aim to create new opportunities for artists, developers and digital creators, establishing Astar as a hub for entertainment projects.

Since its inception, Astar has focused on bridging Web2 and Web3 to enable blockchain adoption. Astar’s integration of Soneium, an Ethereum Layer 2 open blockchain developed by Sony Block Solutions Labs, marks a significant milestone, strengthening Astar’s growth.

The Astar (ASTR) token plays a pivotal role in the expansive Astar ecosystem (including Soneium) driving liquidity and engagement. By enabling funding, supporting innovation and attracting new users through incentivized DApps, ASTR reinforces its role as the unifying token across the ecosystem.

"We are impressed by Astar Network’s progress in advancing Web3 adoption, especially in the critical domain of onchain entertainment IP, particularly in Japan and Asia. This aligns perfectly with our mission at Animoca Brands to advance digital property rights and the open metaverse and its associated network effects. We have invested in over 540 companies, one of the broadest investment portfolios in the Web3 industry. We aim to combine our experience and portfolio with Astar’s strong ecosystem to unlock new possibilities for creators, developers and users in the rapidly evolving Web3 entertainment landscape,” said Yat Siu, executive chairman and co-founder of Animoca Brands.

"We are honored to receive investment from Animoca Brands and to collaborate on generating greater value in the Astar and Soneium ecosystems. As one of the most active investors in the Web3 space, Animoca Brands has a deep understanding of the ecosystem’s direction. We take their support as confirmation that our efforts are contributing to the long-term success of blockchain and digital assets," said Sota Watanabe, founder of Astar Network.

With an eye on incorporating some of the most popular and paradigm-shifting concepts in the world of crypto, this collaboration will work to advance the Web3 entertainment industry and drive engagement on Soneium. This includes possible initiatives around exploring the creation of a fund focused on IP and entertainment narratives, a move that has caught the attention of institutional investors.