Japanese music and entertainment giant Avex Group announced the launch of Avex USA to enter the North American market. Avex USA will set up three core business units, namely Avex USA Publishing for the publishing industry, Avex USA label SELENE for the recording industry, and investment fund Future of Music Investment Fund.
Avex USA said that they plan to expand the Future of Music Fund to $25 million and expand the scope of investment into crypto, NFT early-stage businesses, with a broad focus on Web3, Metaverse, and the creator economy, aiming to serve the music and Web3 industries contribute to the development.