By James McQuillan

Japanese and Taiwan-based smartphone games developer Akatsuki has announced the establishment of its own dedicated Web 3 fund. Dubbed ‘Emoote’, it’s a fund that already has a great deal of experience in the world of Web 3. For example, the team has been responsible for investing in over 20 projects globally – including the well-known STEPN.

It’s likely that many of you reading will recognise the name ‘STEPN’ as the ‘move-to-earn’ digital token.

Going forward, Emoote will continue to invest in startups in Web3 fields such as GameFi, NFTs, and Metaverse as we actively support the collaboration with Japanese entertainment and media companies.

According to the company’s announcement, Emoote is one of a list of funds dedicated to supporting startups across regions like North America, India and Japan. But, unlike them, Emoote has a three-pronged approach towards its focus on Web 3 in Asia.

Firstly, Emoote’s capital will seek to uplift projects that have the “potential to transform the entertainment, media and lifestyle fields with Web 3 technology. To fully realise this, Emoote looks at the following three areas:

• Web2 Applications with Token

Referring to tokens like STEPN; which offer real-world utility, both in practicality on Web2 applications, but also for the player/developer across conventional entertainment and lifestyle.

• Web3 IP Creation

This relates to the creation of brand new, web3-based intellectual property. Examples of this are Bored Ape Yacht Club and ApeCoin among others.

• NFT and Digital Fashion

As has been seen with the likes of Burberry in Blankos, and NFT items in games with popular appeal, Akatsuki clearly wants to see projects, in this medium, that have the ability to have practical use within the metaverse.