Virtual Arts Secures Investment from Animoca Brands Japan for Web3 Dance Game

02/16/2023 04:17 • Crypto & Markets • 73 views

It is reported that according to the official news of Animoca Brands, Virtual Arts announced the completion of a new round of financing, and Animoca Brands Japan, the strategic subsidiary of Animoca Brands, participated in the investment. The specific investment amount has not been disclosed yet. Virtual Arts is building a Web3 dance game application for the global hip-hop dance community. The application is expected to launch the virtual avatar function in May this year, and new functions will be added later to convert dance videos into user avatars and provide more Web3 content.

Virtual Arts completed a new round of financing and Animoca Brands Japan participated in the investment

Interpretation of the news:

Virtual Arts, a company building a Web3 dance game application for the global hip-hop dance community, has announced the completion of a new round of financing. According to official news from Animoca Brands, the strategic subsidiary of Animoca Brands Japan participated in the investment. However, the specific investment amount has not been disclosed yet.

The virtual dance game application is expected to launch the virtual avatar function in May this year, with new functions to be added later. It will allow users to convert their dance videos into avatars and provide more Web3 content. Virtual Arts aims to create a more immersive and interactive experience for the users in the global hip-hop dance community.

The Web3 technology is a decentralized and more secure version of the internet. With the growing interest in blockchain technology, Web3 has become increasingly popular, presenting new opportunities for gaming and entertainment industries. The application of Web3 in the gaming industry can improve transparency and security, establishing trust in player-to-player transactions, and enabling real ownership of virtual assets. Furthermore, Web3 can provide a better user experience by delivering more immersive and interactive content.

Animoca Brands Japanese invests in Virtual Arts reflects the company’s strategic vision in exploring the potential of Web3 and the gaming industry’s growth in Asia, where the hip-hop dance community is also thriving. Hip-hop dance has become a global phenomenon, and the virtual dance game application caters to the growing demand for more interactive and social experiences.

In conclusion, Virtual Arts’ new round of financing and upcoming launch of the virtual dance game application reflects the company’s commitment to leverage the potential of Web3 technology to create innovative and interactive experiences for gamers and the global hip-hop dance community. Animoca Brands Japanese’s participation in the investment further demonstrates the growing interest in the gaming industry’s potential in Asia and the importance of exploring new technologies to create value for users.

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