Astar Network Receives Strategic Investment from Animoca Brands to Accelerate Development of Web3 Entertainment Ecosystem

CoinRank News: Astar Network announced a strategic partnership with Animoca Brands, a leading company in the field of blockchain games and digital property rights. Astar provides Japanese and Korean government and enterprise channels and third-party IP resources. The latter makes a strategic investment in Astar Network to jointly promote the construction of the Web3 entertainment ecosystem. It is reported that Animoca Brands has invested in more than 540 Web3 projects. This investment reflects its optimism about the potential of the integration of Asian entertainment IP and blockchain. The first phase of the cooperation will land two major projects: the Anime ID identity system based on Moca Network, deployed on the Soneium chain, to achieve a smooth transition from Web2 to Web3 users; the Anime Art Fest digital art platform, which provides NFT development, fan economy operations and other services for IP copyright holders, and will introduce well-known Japanese animation IPs in the first phase. Astars ecological native token ASTR plays a key role in the cooperation, not only as a transaction medium, but also supports ecological projects through developer incentive plans. In addition, the two parties will open up IP resources and plan to jointly launch the Asian Entertainment IP Fund. With the implementation of Japans Web3 Promotion Act, the cooperation between Astar and Animoca Brands is expected to set a new paradigm for the industry. The two parties plan to complete the deployment of more than 10 head IP chains by 2025, upgrade the Soneium mainnet, and improve network performance.