Animoca Brands Raises $110 Million in a New Round of Funding
Animoca Brands, a Hong Kong-based blockchain gaming startup and prominent investor in crypto projects, has raised $110 million by the issuance of convertible notes.
The latest funding round is led by Singapore’s state-owned investment firm Temasek, as well as U.S. venture capital firm GGV Capital and Chinese private equity firm Boyu Capital, according to a company statement on Thursday.?
In addition, Mirae Asset Management and True Global Ventures remain investors. Animoca Brands is valued at around $5.9 billion.
With the company's growth over the past year, Yat Siu, its co-founder and executive chairman explained that Animoca Brands intends to support the open metaverse.
“We are incredibly pleased to complete a special strategic round of fundraising comprising several of the most respected institutional investors in the world,”
He added, “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.”
In order to deliver true digital ownership to users' virtual assets and data, Animoca Brands is utilizing technologies, such as blockchain and NFTs. Animoca Brands' open framework, asset interoperability, and play-and-earn enable various DeFi and GameFi opportunities, which allow for greater reward opportunities throughout the open metaverse.
Animoca Brands will engage and seek advice from Temasek, GGV, and Boyu Capital on various issues, allowing it to become "pre-IPO ready."
The company was delisted from the Australian Securities Exchange in March 2020 for violating its listing rules. However, Animoca Brands has not set a schedule for its listing.
CBW - External Analyst