■ Purpose of the capital and business alliance between Brave group and Animoca Brands Japan

Founded in 2017, Brave group is a startup led by the serial entrepreneur Keito Noguchi. Currently, the company is running various businesses in the Metaverse area, such as the IP business that operates ‘RIOT MUSIC’(virtual music production) and ‘Vspo!’ (the next-generation Virtual eSports project and the Platform business that utilizes our own metaverse engine,‘Brave Engine'.

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Since 2022, Brave group has been focusing on global expansion around its own IP.  We initiated the collaboration with "MyAnimeList" in August 2021, which operates the world's largest anime community, and entered into a business alliance with the Indonesian version of “Billboard '' media ‘Billboard Indonesia’ in May 2022, to strengthen our partner alliance for global expansion.

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In addition, 2022 is said to be the first year of the Web3 era. As startups and projects in the Web3 area were born one after another around the world with increasing attention, Brave group has taken quick actions such as held RIOT MUSIC's online simultaneous live "Re: Volt 2022 (Revolt 2022)" in March 2022 and distributing "sound" NFTs, in anticipation of content appeal in the upcoming Web3 era.

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Animoca Brands, the parent company of Animoca Brands Japan, is a Hong Kong-based Web3 company that builds its own Web3 ecosystem and invests in blockchain games, metaverse, DeFi, and crypto wallets around the world.

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Established in October 2021, Animoca Brands Japan is a strategic subsidiary of Animoca Brands in Japan, to support the global Web3 strategies of Japanese intellectual property and content holders such as major publishers, brands, education, sports / athletes, artists and game companies. Specifically, Animoca Brands Japan provides a platform that combines IPs with blockchain technology, and supports IP holders to build their own ecosystem in the Web3 world through a full stack of Web3 services, linking the bridge between Japanese IPs and global fan communities.

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Through this capital and business alliance, we will strengthen our Web3 initiatives, further grow Brave group's each business in the metaverse space, and accelerate the global expansion.

■ Kyoya Okazawa, Co-founder and Chief Investment Officer of Animoca Brands Japan commented:

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Supporting the global expansion of great Japanese IPs is exactly the motivation that we established Animoca Brands Japan at the beginning. We share the same vision and passion for Web3 with Brave group, which led to this strategic investment opportunity.

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We are pleased and honored to have the opportunity to partner with Brave group. We will continue to work closely with Brave group to realize synergies with the Animoca Brands ecosystem as well as support Brave group's Web3 / global strategy.

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Meeting a company with such ambitions as Brave group has given us a lot of courage to consider future business and investment opportunities in Japan. We will continue to actively pursue our activities in Japan with the slogan, "Japanese IP to the world!"

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■ Keito Noguchi, CEO of Brave group Inc. commented:

We are pleased to announce that we have entered into a capital and business alliance with Animoca Brands Japan.

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With the mission of "Strike Wonder in 8 billion hearts," we strive to become a global company and focus even more effort on the global development of our IPs and the utilization of Web3.

Staying true to our mission, we are very honored to have this opportunity to partner with the world's leading Web3 company Animoca Brands.

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Brave group has a proven track record of creating high-quality IPs such as virtual artists from scratch despite being latecomers to the market. Through this partnership with Animoca Brands Japan, we hope to make a strong alliance with Animoca Brands and accelerate the global expansion of our IPs and other businesses within the Web3 ecosystem.