Animoca Brands invests in Astar to grow Sony-linked blockchain ecosystem

Astar Network is teaming up with Animoca Brands to grow its Sony-powered blockchain ecosystem and onboard more users to web3 through entertainment. Astar Network, a parachain within the Polkadot ecosystem, has secured a strategic investment from Animoca Brands , as both companies look to bring more Japanese and Asian entertainment IP onchain and grow adoption of Sony’s layer-2 network Soneium. In a press release shared with crypto.news, Animoca Brands co-founder Yat Siu said the investment “aligns perfectly with our mission to advance digital property rights and the open metaverse,” adding that Astar’s focus on onchain entertainment IP, especially in Japan and Asia , offers a unique chance to speed up web3 adoption. The investment size hasn’t been disclosed. The partnership will include integrations such as Anime ID, a digital identity layer powered by Animoca’s Moca Network and partner San FranTokyo. Additionally, Astar is also planning to launch entertainment-focused campaigns like Anime Art Fest on Soneium, per the press release. You might also like: Animoca Brands partners with Soneium to develop new identity layer Anime ID “As one of the most active investors in the web3 space, Animoca Brands understands the direction the ecosystem is heading, and we take their support as confirmation that our efforts are contributing to the long-term success of blockchain and digital assets.” Sota Watanabe, founder of Astar Network The news comes as Animoca Brands prepares to go public in the United States. Siu earlier said the IPO won’t depend on market conditions, adding that “going public is a way to tell the world that ‘hey there’s a business that is in crypto that isn’t doing the typical crypto stuff.’” Siu also pointed to the shift in regulatory stance under the Trump administration as a key reason for moving forward but didn’t provide a clear timeframe for the public listing, saying it was a unique moment and that it would be a wasted opportunity not to try. Read more: Standard Chartered teams up with Animoca Brands to issue Hong Kong dollar-backed stablecoin