• Animoca Brands’ strategic subsidiary has invested in Passion Labs. 

  • Both companies will collaborate in helping Japanese companies move to Web3 and create Web3 communities. 

Animoca Brands Japan, a strategic subsidiary of Animoca Brands, has its eye set on Passion Labs this time. The venture capitalist wants to expand its foothold in Japan, helping companies migrate to Web3.

Despite starting in 2022, Passion Labs empowers many old and upcoming luxury brands in Japan and Asia-Pacific with its analytical tools. Animoca Brands has invested in the company to use its technology and help Japanese companies migrate to Web3.

We are pleased to share that @Animocabrandskk (Japan) has invested in Passion Labs (@passionxyz), a Taiwan-based company that provides analytics to strengthen luxury and automotive brands in Japan and Asia-Pacific.

Read the full announcement:

— Animoca Brands (@animocabrands) February 24, 2023

 

Passion for Web3

Passion Labs has a proven track record of strengthening luxury and automotive brands in Japan and Asia Pacific by providing analytics to empower their respective communities. Animoca Brands and Passion Labs have previously worked with many of the region's luxury brands, like Bentley Japan, moving to Web3. Following the investment, Animoca Brands Japan and Passion Labs will continue working together to help Japanese companies develop their Web3 strategies and create communities.

The strategic subsidiary will use Passion Labs’ technology for KOC (Key Opinion Consumer) analysis in Japan to help companies move to Web3. 

Kyoya Okazawa, the Co-founder of Animoca Brands Japan, commented: 

“We are thrilled to invest in Passion Labs because we believe that its services will be an integral part of Web3, where community engagement is critical. Last December, we joined Passion Labs’ founder Keegan Huang and Porsche’s marketing director Daniel Feucht on stage at NFT Taipei to discuss what Web3 means for luxury brands. The role of Key Opinion Consumers is important because Web3 seeks to empower the community. We will continue to contribute to the value creation of companies in Web3 through these investments.”

Keegan Huang, the Co-founder and CEO of Passion Labs, shared his excitement about the strategic alliance with Animoca Brands. The co-founder has claimed this investment is meaningful for Taiwanese companies as Taiwan leverages Web3 technology to engage with communities. 

On The Flipside

  • Upon closer inspection, Passion Labs’ Twitter account is protected and has no followers. Moreover, the platform’s website exhibits a static page featuring the CEO’s pinned tweet.

Why You Should Care

The Japanese government is renowned for its crypto-friendly and crypto-forward initiatives. The country aims to utilize various Web3 technologies in its digital transformation. Soon, many brands in the country will have migrated to Web3. Animoca Brands and Passion Labs are leveraging the country’s crypto-forward initiatives to help companies move to Web3.