Game developer Akatsuki launches $20 million fund focused on Web 3.0

Japanese company Akatsuki Inc. announced the creation of the Emoote fund for $20 million. The structure will focus on investments inWeb3 projects.

The fund will support startups in the metaverse, GameFi and NFT fields. The firm plans to focus its efforts on cooperation with Japanese entertainment and media companies.

“Based in Singapore, we will be investing with a focus on Asia, an important Web 3.0 market, while maintaining a global mindset,” Akatsuki said.

The company reportedly fundedmore than 20 startups, including STEPN from the Australian studio Find Satoshi Lab. In April, the venture division of the Binance bitcoin exchange announced strategic investments in the project.

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Akatsuki is a mobile game developer. The most famous is Dragon Ball Z: Dokkan Battle - as of May 1, it has been downloaded more than 350 million times worldwide.

Formerly behind Ethereum exchange Uniswap, Uniswap Labs has set up a venture arm to invest in Web 3.0.

Structures with similar goals launched Framework Ventures and 6th Man Ventures.

In May, digital asset management company Ikigai Asset Management raised $30 million for a fund focused on metaverse and Web3 initiatives.

Recall musician and producer Pharrell Williamscalled blockchain and decentralized Web 3.0 technologies the key to a revolution that will shake the music industry, the financial system and world governments.