Animoca Brands has announced that the blockchain and cryptocurrency-focused firm has raised $358.8 million to strengthen the non-fungible token (NFT) industry and “build an open metaverse.” The capital raised follows the firm’s increase of $65 million and $138.88 million last year, and today, Animoca Brands has a total valuation of $5 billion.
Animoca Brands Raises $358 Million in Funding Led by Liberty City Ventures, Blockchain Company With a Pre-Money Valuation of $5 Billion
The firm Animoca Brands is a global developer of popular brands using gamification, AI, blockchain, non-fungible tokens (NFTs) and mobile technology. On Tuesday, the company announced that the firm has secured $358.8 million in a financing round led by Liberty City Ventures.
In a statement sent to Bitcoin.com News, Animoca Brands further elaborated that other investors include Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi. Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group and Parafi Capital.
In addition to using the financing to increase NFTs and Metaverse adoption, Animoca Brands said that “the new capital will be used to continue strategic acquisitions and investments, product development, and licenses for popular intellectual property.” Animoca Brands has a strong focus on building the metaverse by leveraging blockchain solutions and NFT technology. The company’s $358.8 million financial announcement stated:
Animoca Brands is working to create an open metaverse by bringing digital asset rights to online users through the use of blockchain and NFTs; These technologies enable de facto digital ownership of users’ virtual assets and data, and make possible various [decentralized finance] and opportunities for GameFi (including play-to-earn), asset interoperability, and an open framework that could lead to greater equality for all participants.
The company’s blockchain projects include The Sandbox Metaverse and its Sand Token, a blockchain third-person shooter called Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and more. Liberty City Ventures Managing Partner, Murtaza Akbar elaborated during the financing announcement that Animoca Brands is “demonstrating to the world the game-changing features of Web 3 and the open metaverse.”
What do you think about Animoca Brands raising $358.8 million in funding from strategic investors? Let us know what you think about this topic in the comment section below.
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