YOAKE entertainment has raised a total of ¥180 million (approximately $1.25 million) through the private sale of ‘YOAKE tokens’ (‘$YOAKE’) conducted by BOBG PTE. LTD. and the sale of bonds with a token conversion clause under the supervision of a major law firm, to build a next-generation entertainment platform.

■About the Fundraising Efforts

Using $YOAKE, we aim to create a next-generation entertainment platform to revolutionize the connection between artists and fans and to create a world where everyone can freely enjoy entertainment beyond borders, cultures, and economic frameworks. Through this fundraising effort, we will add new value to the daily activities of artists and fans, build a mechanism to respond to their requests, and promote efforts to create a global fan community that transcends national borders.

■Reinforcing Strategies through Fundraising

Using this financing, we will significantly accelerate the following initiatives to strengthen our competitiveness in the global market.

1. Accelerate Platform Development:
We aim to develop an innovative entertainment platform based on the Soneium and $YOAKE blockchain provided by the Sony Group.

2. Content Expansion
We will produce and develop diverse entertainment content with a focus on the global market.

3. Strengthen IP Strategy:
We will diversify development by strengthening cooperation with existing IPs and developing new IP content.

The private sale of $YOAKE was conducted by BOBG, and the Company no longer issues or sells $YOAKE. Under the supervision of a major law firm, the Company raised funds through the sale of bonds with token conversion clauses and other means.

Going forward, we will utilize the Soneium blockchain and $YOAKE to improve fan activities and promote the creation of more innovative entertainment experiences.

*What is the Soneium Blockchain?
The Soneium blockchain is a joint venture between Sony Group Inc. and Startale Group Pte. Ltd., of which Sota Watanabe, a Web3 entrepreneur and a member of our board of directors, is the CEO. It is being developed by Sony Block Solutions Labs Pte. Ltd. Ethereum Layer 2 blockchain.

■Funding Summary

◇Amount Raised: ¥180 million (approximately $1.25 million)
◇Procurement method: Private sale
◇Underwriters:
・Next Web Capital (Chief Underwriter)
・Bitbank Ventures
・Credit Scend
・Knot
・Hakuhodo Key3
・Quantum Leaps Growth Initiatives Corporation
・Taisu Ventures
・X2Y2
・Many other domestic and international investors, including those in the Web3 and entertainment domains

■Investor Comments

Next Web Capital Director Shun Ishikawa
“YOAKE has a deep understanding of the entertainment industry and cultural values as well as Web3, and I believe this project is extremely important as an incredible use case that will be developed on top of Soneium. As a Web3 platform from Japan, I expect it to present new forms of entertainment and excitement to the world.”

Wayne Park, CEO of Credit Scend
“YOAKE stands out in that it boldly takes on challenges in areas where others have not ventured. In a world where similar projects tend to be everywhere and short-term buzz tends to take precedence, YOAKE is pursuing a more long-term approach that is close to the actual users, which requires a great deal of commitment. It is rare to meet a founder who is serious about a concept that is culturally difficult to penetrate, narratively complex, and intentionally designed with a long-term perspective. That is why we’ve decided to support YOAKE.”

Hakuhodo Key3 CEO Toshinori Shigematsu
“We are very pleased to invest in YOAKE’s Web3-based entertainment business. We feel that the company has the potential to revolutionize the industry with new technologies, and we are very excited about its future development. I look forward to contributing to its growth, even if only in a small way.”

Quantum Leaps Growth Initiatives Corporation President & Co-Funder Takakazu Ishii
“We see great potential for YOAKE entertainment to provide entertainment experiences that respond to new values, not only in Japan but also globally, through blockchain technology. We look forward to supporting the company’s business growth and helping to create a new entertainment future together.”

Taisu Ventures Managing Partner Takashi Hayashida
“YOAKE embodies the ability to share Japan’s unique creative DNA with the world through cutting-edge technology. We have always believed in the potential of cultural innovation, and we are proud to support this challenge as YOAKE moves from Japan to the world.”

X2Y2
“Among blockchain use cases, it is often difficult to find strong applications outside of finance. However, entertainment is one of the leading areas with long-term potential as a use case for blockchain. Closely related to NFT as digital content, we fully support YOAKE’s focus in this area.”

Quantstamp CEO Richard Ma
“YOAKE is redefining what fan engagement can be by integrating officially licensed IP into the Web3 ecosystem. Based on Soneium and utilizing user-friendly blockchain technology, we offer a new entertainment experience that resonates with the general public.”