Blockchain gaming publisher Animoca Brands announced that the company has raised $110 million in a funding round led by Temasek, Buoy Capital and GGV Capital. The company raised funds by issuing convertible notes to a handful of institutional investors.
Animoca Brands raises $110 million from strategic investors
Animoca Brands has raised another $110 million this month, after the company secured $100 million from Temasek and others in late August. The latest capital increase announced on September 8th shows that Temasek, Buoy Capital and GGV Capital led the round, with Mirae Asset Management and True Global Ventures also participating.
Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands (AB) have managed to grow through several investment rounds amid the crypto winter. The company’s Japanese subsidiary, then known as Animoca Brands KK (Animoca Brands Japan), raised $45 million from Japan’s largest bank MUFG and Animoca Brands KK’s parent company AB.
In the latest announcement revealed Thursday, Animoca Brands said Temasek, Bouy Capital and GGV Capital will provide advice to the firm and the companies “input [Animoca Brands’] Business and capital plans. Web3 and the blockchain gaming publisher are planning to use the new capital for “strategic acquisitions, investments and product development, secured licenses for popular intellectual property.”
In addition, the announcement sent to Bitcoin.com News states that the firm aims to strengthen the open metaverse. Animoca Brands Co-Founder and Executive Chairman Yat Siu elaborated that the company has seen significant growth during the past 12 months.
“Animoca Brands as a company has grown significantly over the past year, and our new investors will contribute strategic advice and perspective as we move forward as the world’s leading company in advancing digital asset rights in the Web3 industry,” Siu said in a statement. build.”
Web3, NFT Markets, and Interest Slide, Report Says Company Has IPO
Non-fungible tokens (NFTs) and Web3 have seen a significant drop in market cap and overall interest in 2022 since last year’s highs. During the past 30 days, NFT sales data from Cryptoslam.io indicates that monthly NFT sales have reached $543.77 million, but are down 20.05% compared to $680.12 million a month ago.
On Google Trends (GT), the search term “web3” tapped the highest score of 100 during the week of December 19-25, 2021. Data from September 4-10, 2022 indicates that the “web3” query has a worldwide GT. Today’s Score 67. The search term “nft” is even lower as the week of September 4-10 shows a score of around 14.
Animoca Brands has managed to survive the downturn and raised $75 million in mid-July as the company acquired the War Chest of Funds during the past two years. According to a Forbes report, Animoca Brands is considering a potential initial public offering (IPO). Crunchbase data indicates that the blockchain gaming publisher and Web3 company has raised $775.3 million since its founding in 2014.
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