Technology-enabled Entertainment Company: PlayVerse raises seed funding of $1.5M via Japan’s Akatsuki Inc
- ByStartupStory | April 5, 2022
A technology-enabled entertainment company built on Web 3, PlayVerse, has raised $1.5 million as seed funding from Japanese gaming company Akatsuki Inc.
Its own D2C brand, which will be focused on an interconnected universe of content and “play” has been planned to be launched by PlayVerse. With a 360-degree approach to content and merchandise, it aims to unlock the full potential of an IP. Both physical products such as toys as well as digital assets like emojis, avatars, and skins creating more interest among users would be included by this merchandise.
On enabling content owners to maximise the monetisation potential of their IPs, will be actively focused on bt PlayVerse.
In India, the startup offers world-class content, games, toys, and technology products. On its mission of providing an enriching experience to the end consumers of the country, will be focused on by the diverse platform.
PlayVerse looks to maximise the monetisation potential of popular Japanese IPs and brands in India, with an aim of increasing cross-border collaborations between India and Japan.
About 50 percent of the total time spent on OTT platforms will be to consume regional content, has been estimated by 2025 by a FICCI-EY report.
At localising global content into regional Indian languages to be inclusive and accessible to the diverse vernacular Indian audience will be aimed by PlayVerse.
The Indian gaming industry is expected to reach $3.9 billion by 2025, the Indian toys market reached a value of $1.35 billion in 2021 and with over 400 million online gamers in India.
PlayVerse looks to build on its philosophy of “Joy Infinitum”, meaning spreading infinite joy to its consumers, by catering to both these industries, along with focusing on providing world-class content.
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