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Game developer Akatsuki announces $20 million web3 fund

Japanese entertainment and gaming firm Akatsuki said on Wednesday that it has raised a $20 million fund focused on investing in web3 projects. The fund, dubbed Emoote, will look to back startups working on projects in GameFi, non-fungible tokens (NFTs) and the metaverse, Akatsuki said in a press release.  The name Emoote was chosen to signal that NFT consumption is based on “emotional values,” Akatsuki added.  The business has form for investing in crypto-adjacent projects, having funded more than 20 …