On July 12, Blockchain gaming platform startup Animoca Brands Corp. Ltd. announced that it has raised $75.32 million in new funding to advance the open metaverse and fund product development, investments, strategic acquisitions, and secure licenses for popular intellectual properties.

The funding round at a valuation of $5.9 billion was backed by investors like Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway, Cosmic Summit Investments, and others.

Animoca has raised a total of $675.3 million to date including the last funding round held last January. On January 18, Animoca raised US$358,888,888 (approximately A$500.3 million) at a pre-money valuation of over US$5 billion to grow the open metaverse. Investors presented such as C Ventures, Delta Fund, Gemini Frontier Fund, Soros Fund Management, and Winklevoss Capital.

“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,” Yat Siu, co-founder and executive chairman of Animoca Brands, said in a statement.

With the help of decentralized Web3 technology, Animoca is also heavily invested in non-fungible tokens, which can be utilized in metaverse-related gaming projects that consolidate digital property for online clients.

The company says it uses blockchain and NFTs technologies to provide true digital ownership to the virtual assets and data of the users, empowering various DeFi and GameFi opportunities such as play-and-earn, asset interoperability, and an open structure that can lead to more equitability for all members in the open metaverse.

Founded in 2011, Animoca has established itself as one of the world’s leading technology groups in blockchain and gaming by spearheading and innovating decentralized in-game rewards and monetization in video games for the emerging open metaverse.

Joyashree Dey

CBW - External Analyst

INDIA