Animoca Brands Japan, a subsidiary of Animoca Brands Corporation Limited has made a strategic investment of JP¥100 million (£635,000) into Psychic VR Lab, developers of XR creative platform STYLY.
Animoca Brands first partnered with Psychic VR Lab in June of last year. The STYLY creators have a vision of ‘realizing the world where people wear a space’. More than 50,000 artists around the globe are using STYLE with a viewer app that’s garnered more than 5 million downloads.
“Looking ahead, the possibilities of real space will be expanded by XR technology, and the value of all urban spaces such as buildings’ atriums and parks will increase with the addition of virtual versions. It will be possible to bring media and entertainment attributes into these spaces. Through this partnership, we will create new economic opportunities on these digital twins by connecting them with Animoca Brands’ global Web3 ecosystem of over 400 companies, and leverage content from our partner IP holders,” said Kyoya Okazawa, co-founder of Animoca Brands.
After holding a JP¥1 billion fundraising round in December 2022, Psychic VR Lab’s STYLE is gradually becoming an important part of the infrastructure in the XR era, one that combines the virtual world and the real world.
Masahiro Yamaguchi, the CEO of Psychic VR Lab commented, “With the investment from Animoca Brands, a leader in the Web3 ecosystem, we are going to accelerate the creation of “Real Metaverse” with our real metaverse platform STYLY. We believe that the evolution of technology in the XR / Web3 field will not only change the structure of modern society, but will also fundamentally change people’s lifestyles as a movement of world creation in the history of mankind. We hope to play a great role in this major turning point of history.”
The investment will see Animoca Brands Japan further elevate the mission of Animoca Brands’ HQ which is to build a Web3 ecosystem in Japan alongside portfolio companies like Psychic VR Labs.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
