Animoca Brands’ Japan subsidiary has announced a JP¥100 million (roughly $780K) investment in Psychic VR Lab, a metaverse company that specializes in generating virtual reality content.
The investment will support the development and expansion of Psychic VR Lab’s platform, STYLY. It offers artists creative VR tools for creating various virtual spaces, allowing them to unleash their creativity.
STYLY — which is currently available in the Apple App Store and Google Play and is compatible with Mac and Windows — already counts over 50,000 AR and VR works made by artists and creators from all over the world using STYLY Studio, a free web-based 3D creation tool.
Aside from financially supporting Psychic VR Lab, Animoca Brands will also offer the metaverse company access to its global Web3 ecosystem, which includes over 400 companies.
This investment is another step forward for Animoca Brands in its efforts to enhance Web3.
The company has already taken major moves in that way.
Last month, it acquired a majority stake in music metaverse platform Pixelynx, with the goal of changing how fans and artists connect.
Also last December, the company introduced its new NFT collection, Mocaverse, which includes 8,888 PFP NFTs with utilities for holders.
In November, Animoca Brands partnered with Cool Cats and OneFootball Labs to launch the “Cool Cats FC” NFT collection, and with Arevo to produce a range of personalized carbon fiber bikes customized with personally owned NFT artwork.