Animoca Brands, a leader in the web3 game ecosystem, has raised more than $75 million in investment to fuel the development of the open metaverse.
The company, which has made several significant investments in projects such as Axi Infinity, OpenC, Yield Guild Games, Dapper Labs (NBA Top Shot), Eden Games and Harmony, has raised funds in a little less than seven months. $359 million at a valuation of $5 billion,
Investors in Animoca’s latest funding include Liberty City Ventures, SG Spring Limited Partnership Fund, Kingsway Capital, 10T, Alpha Wave Ventures, Generation Highway Limited and Cosmic Summit Investments Limited, the firm said in a blog release.
advancing the open metaverse
Animoca Brands, which has been leading the establishment of the open metaverse through a range of initiatives in blockchain, digital entertainment and gamification, says it will use the new capital to advance this goal.
,Digital property rights represent a society-defined generational shift that affects everyone online and will set the stage for the emergence of an open metaverse. We are deeply honored to continue to enjoy strong support from investors as we work to strengthen Animoca Brands’ leadership position in the Web3 industry and in the realm of true digital ownership.Yat Siu, co-founder and executive chairman of Animoca Brands, said.
According to the company, the money will go towards strategic acquisitions, product development and investments in the space.
The company will also use the funds to acquire intellectual property licenses, with key areas of progress being blockchain and NFT, DeFi, GemFi, and asset interoperability.