Blockchain Gaming Publisher and Web3 Firm Animoca Brands Secures $110 Million
Blockchain gaming publisher Animoca Brands announced the company has raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. The company raised the 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, at the end of August. The latest capital raise, announced on September 8, explains that Temasek, Boyu Capital, and GGV Capital led the round, and Mirae Asset Management and True Global Ventures participated as well.
The Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands (AB) has managed to grow via a number of investment rounds amid the crypto winter. The company’s Japanese subsidiary, 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 on Thursday, Animoca Brands said Temasek, Boyu Capital, and GGV Capital will provide the firm with advice and the companies will give “input on [Animoca Brands’] business and capital plans.” The Web3 and blockchain gaming publisher plans to use the fresh capital for “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties.”
Furthermore, the announcement sent to Bitcoin.com News details that the firm aims to bolster the open metaverse. Yat Siu, the co-founder and executive chairman of Animoca Brands, detailed that the company has seen notable growth during the last 12 months.
“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry,” Siu said in a statement. Web3, NFT Markets, and Interest Slide, Report Says Company Mulls IPO
Non-fungible tokens (NFTs) and Web3 have seen a considerable dip in market value and overall interest in 2022 since the highs last year. During the past 30 days, NFT sales data from cryptoslam.io indicates monthly NFT sales hit $543.77 million but are down 20.05% lower than the month prior’s $680.12 million.
On Google Trends (GT), the search term “Web3” tapped the highest score of 100 during the week of December 19-25, 2021. Data for September 4-10, 2022, indicates that the “Web3” query has a worldwide GT score of 67 today. The search term “NFT” is even lower as the week of September 4-10 shows a score of approximately 14.
Animoca Brands has managed to stave off the downturn and secured $75 million in mid-July as the company has obtained a war chest of funds during the last two years. According to a report from Forbes, Animoca Brands is contemplating a possible initial public offering (IPO). Crunchbase data indicates the blockchain gaming publisher and Web3 company has raised $775.3 million since it was founded in 2014. Tags in this story $110 Million, Animoca Brands, Animoca Brands Japan, Animoca Brands KK, Blockchain, blockchain gaming, blockchain gaming publisher, Boyu Capital, capital plans, GameFi, Gaming, GGV Capital, initial public offering, Investments, Investors, IPO, MUFG Bank, NFT interest, NFT sales data, NFTs, P2E, play to earn, Temasek, Web3, Web3 interest
What do you think about Animoca Brands raising $110 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 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork FINANCE | 15 hours ago Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option FINANCE | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articlePayments Firm Bolt Scraps Deal to Acquire Crypto Company Wyre Next articleUS Senators Press Meta CEO Mark Zuckerberg on Crypto Scam Policies for Facebook, Instagram, Whatsapp 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 ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method