Blockchain gaming giant Animoca Brands raises $110 million
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One of the leading blockchain gaming companies in the world, Animoca Brands, has raised $110 million in a funding round to further its metaverse development. The news comes a couple of months after the July investment round that saw the company raise $75 million to advance digital property rights for the open metaverse. Animoca also received $360 million in investment funds in January. Following all the investments, the company’s valuation remains at approximately $5.9 billion.
Boyu Capital, GGV Capital, and Temasek led the newest funding round. Besides the investment money, Animoca Brands also got valuable advisors on board. The three investors will advise on business issues and engage with Animoca Brands by providing input on its business plans.
With the funds, Animoca Brands will “continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.” The company will also focus on advancing decentralized in-game rewards and monetization in video games.
“We are incredibly pleased to complete a special strategic round of fundraising comprising several of the most respected institutional investors in the world, and we are honored by the continued support from existing investors,”
said Yat Siu, co-founder and executive chairman of Animoca Brands.
Siu added that the company has grown significantly in the last year, and the present investors will support Animoca Brands as they develop “the world’s leading company furthering digital property rights in the Web3 industry.”
Animoca Brands was founded in 2014 and first focused on smartphone and tablet gaming. In 2017, the company started to move towards blockchain gaming to allow players to trade in-game assets (NFTs). In April, the gaming giant reported having over 340 crypto-related companies and projects in its portfolio.
Last month, Animoca Brands’ Japanese strategic subsidiary “Animoca Brands KK” raised $45 million at a $500 million valuation.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in Literary Studies from the University of Amsterdam and has an extensive background in writing about a wide range of topics including cybersecurity, travel, art, and culture. She has also volunteered as an editor for the animal rights organization, “Open Cages,” where she helped raise awareness about animal welfare issues. Currently, Agne splits her time between Barcelona, Spain, and Vilnius, Lithuania, where she continues to pursue her passion for journalism. Contact her on [email protected].
More articlesAgne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in Literary Studies from the University of Amsterdam and has an extensive background in writing about a wide range of topics including cybersecurity, travel, art, and culture. She has also volunteered as an editor for the animal rights organization, “Open Cages,” where she helped raise awareness about animal welfare issues. Currently, Agne splits her time between Barcelona, Spain, and Vilnius, Lithuania, where she continues to pursue her passion for journalism. Contact her on [email protected].
