Web3 Company BLOCKSMITH&Co. Has Raised Angel Round (1st close) Funding

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Nov 17, 2023, 01:00 ET

TOKYO, Nov. 17, 2023 /PRNewswire/ -- BLOCKSMITH&Co. (Head office: Minato-ku, Tokyo; CEO: Tetsuya Sanada; hereinafter "BLOCKSMITH") is pleased to announce that it has raised funds from SBI Group, Headline Asia, J-CAM Corporation and others through the issue of SAFE-type share options as part of an Angel Round (1st close and ongoing).

Background

＜Partners Companies (Partial)＞
Comments from Yoshitaka Kitao, Chairman and President, SBI Holdings, Inc.：
‘No matter how innovative a technology is, if there are no users, no new markets will be created. We hope that BLOCKSMITH&Co. will bring in many users, including those who are not familiar with blockchain, by releasing games and applications that anyone can enjoy, such as QAQA, and contribute to the spread of Web3 and its wings as a company that creates the next generation of entertainment.’ — ＜Partners Companies (Partial)＞ Comments from Yoshitaka Kitao, Chairman and President, SBI Holdings, Inc.： ‘No matter how innovative a technology is, if there are no users, no new markets will be created. We hope that BLOCKSMITH&Co. will bring in many users, including those who are not familiar with blockchain, by releasing games and applications that anyone can enjoy, such as QAQA, and contribute to the spread of Web3 and its wings as a company that creates the next generation of entertainment.’

Until now, the parent company KLab Inc. and its founder and president, Tetsuya Sanada, have owned 100% of the company's capital, but for the first time, capital has come from outside the company. BLOCKSMITH aims to list its shares, which is unusual for a web3-related company, and the funding is part of the company's efforts to strengthen its capital structure and finances in preparation for a listing.

Funds raised are used for product development, research and development, etc.

BLOCKSMITH has a proven track record of blockchain-related development and operations, including the provision of CAPTAIN TSUBASA -RIVALS- to Thirdverse Group (now Mint Town Co., Ltd) in January 2023. In addition to the development of blockchain games, the company is also focusing on the development of related technologies, including the establishment of AI Lab in April 2023 and the announcement of a business partnership on the Facial Recognition Web3 Wallet in September 2023.

More info: https://www.blocksmithand.co.jp/en/news/134

About BLOCKSMITH&CO.

Company Name: BLOCKSMITH&Co.
President and CEO: Tetsuya Sanada
Establishment: April 1, 2022
Capital: 14,999,950 JPY
Head office: Roppongi Hills Mori Tower, 6-10-1 Roppongi, Minato-ku, Tokyo, 106-6122
Business: Development and distribution of products such as blockchain technology and crypto assets utilising NFTs

URL：https://www.blocksmithand.co.jp/en/

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