Blockchain Gaming Publisher Animoca Brands Secures $75M — Firm"s Pre-Money Valuation Rises to $5.9B
The non-fungible token and blockchain gaming company Animoca Brands has announced the firm has raised $75 million from investors such as Kingsway Capital, Liberty City Ventures, and others. The capital injection of $75 million brings Animoca’s overall pre-money valuation to $5.9 billion. Animoca Brands Secures $75 Million to Bolster Digital Property Rights
The Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands has raised $75.32 million, according to an announcement published on July 12. The newly raised capital stems from investors like Cosmic Summit Investments, Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, and Generation Highway Ltd.
Animoca explained that the new funds will be dedicated toward funding “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties (IP), and advance the open metaverse.” The company plans to bolster the promotion of digital property rights with the funding as well.
The co-founder and executive chairman of Animoca Brands, Yat Siu, commented on the subject of digital property rights and the Web3 industry. “Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse. We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”
The $75 million raised follows Animoca’s capital raise back in January when the company secured $358 million. At that time, Animoca noted that the $358 million would be used for acquisitions and IP licenses alongside using the financing to increase NFT and metaverse adoption. Animoca is behind blockchain projects such as The Sandbox, Tower Experiment, Tiny Tap, Arc8, Revv Motorsport, and Revv Racing. The company has also invested in crypto startups and Web3 projects like NBA Top Shot, Opensea, and Sky Mavis.
The Liberty City Ventures managing partner, Emil Woods, believes that Animoca Brands is a pioneer at the forefront of the blockchain, NFT, and gaming space. Woods estimates that in the next ten years society will welcome digital property and ownership offered by blockchain technology. “Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life,” Woods explained in a statement during Animoca’s funding announcement. Tags in this story $5.9 Billion, $75 million, Animoca Brands, Arc8, Blockchain, blockchain gaming, capital injection, Emil Woods, gaming company, Investments, Investors, Metaverse, nft, NFT collectibles, NFTs, pre-money valuation, projects, Revv Motorsports, REVV Racing, The Sandbox, Tiny Tap, Tower Experiment, valuation, Yat Siu
What do you think about Animoca Brands raising $75 million from investors? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Picpay to Offer Cryptocurrency Services in Brazil to More Than 60 Million Customers NEWS | 5 hours ago Top 100 Apecoin Holders Control Over 51% of the Supply, APE Lost 81% in 2 Months NEWS | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articlePicpay to Offer Cryptocurrency Services in Brazil to More Than 60 Million Customers Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItSEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale
Grayscale Investments" CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is "a Matter of When and Not ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Iran to Increase Penalties for Unauthorized Cryptocurrency Mining