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Animoca Brands has announced that the blockchain and cryptocurrency-focused company has raised $358.8 million to support the non-fungible token (NFT) industry and “build an open metaverse.” The financing follows the company’s previous $65 million and $138.88 million last year, and today Animoca Brands is valued at $5 billion overall.
Animoca Brands raises $358 million led by Liberty City Ventures, valuing blockchain company at $5 billion
The company Animoca brand is a global developer leveraging popular brands, gamification, artificial intelligence, blockchain, non-fungible tokens (NFTs) and mobile technologies. On Tuesday, the company announced that it had raised $358.8 million in a funding round led by Liberty City Ventures.
In a statement sent to Bitcoin.com News, Animoca Brands further detailed 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 adoption of NFTs and the Metaverse, Animoca Brands said, “The new capital will continue to fund strategic acquisitions and investments, product development, and licensing of popular intellectual property.” Animoca Brands is very focused on leveraging blockchain Blockchain solutions and NFT technology to build Metaverse. The company’s $358.8 million funding announcement added:
Animoca Brands is working to build an open metaverse by using blockchain and NFTs to bring digital property rights to online users; these technologies enable true digital ownership of users’ virtual assets and data and enable various [decentralized finance] and gamefi opportunities (including game monetization), asset interoperability, and an open framework that can bring greater fairness to all participants.
The company’s blockchain projects include Sandbox Metaverse and its SAND token, a third-person shooter game called Blockchain Phantom Galaxy, REVV racing, This Arc8 Platform and its GAMEE utility token, etc. Murtaza Akbar, managing partner of Liberty City Ventures, detailed in the funding announcement that Animoca Brands “is showing the world the game-changing features of Web3 and open virtual worlds.”
What do you think of Animoca Brands raising $358.8 million in financing from strategic investors? Let us know what you think about this topic in the comments section below.
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