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Invest in blockchain gaming led Animoca Brands Raises $65M From Ubisoft and others

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Pavan A Follow

INDIA

Oct, 20 2021

Oct, 20 2021

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On Wednessday Hong Kong based firm Animoca Brands declared about  a new capital raise of   $65  at a $2.2 billion valuation to support  blockchain gaming.


In the fund raised round investors included were Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Summer Capital, Mirana Corp, Black Anthem Ltd, Sigitech Holdings, Octava Fund and Adit Venture.


The investors in Animoca Brands’ round include French video game giant Ubisoft:

As per the report, the company is planning to use the fund in investment, for product development and licenses for popular intellectual property. In an interview, executive chairman of Animoca Brands  Yat Siu, said that “We weren’t originally looking to raise another round, but some of the partners that we had viewed Because strategic people want to work with us and work together to build blockchain games and licensing agreements. That led to this round.”


Other fund round events done by the company:

The planning of making games with nonfungible tokens (NFTs) for both digital property rights and digital collectables led the company to raise funds. In July Animoca Brands raised $138.88 million. In May the company raised $88 million that led valuation to go more than double which valued the company at $1 billion.As per press release report the company’s portfolio now includes more than 100 NFT-related ventures.


Recent investment done by the company:

Animoca has made two recent investments, Genopets, a recommended project. "Move to Earn" for Dictionary GameFi and reNFT, a company that builds a lending protocol for NFT with rentable use cases.. Early investments done by the companies like Axie Infinity, Dapper Labs and OpenSea.


Other firm raising funds to invest in blockchain gaming:

In order to invest in blockchain games Concept Art House to raise $25 million and Galaxy Interactive to raise a $325 million fund. Last week, Bitkraft raised a $75 million token fund. Two weeks ago Sky Mavis raised $152 million. Also  Dapper Labs raised $250 million, Mythical raised $75 million. Sorare   which is a 30 person team that makes a blockchain fantasy soccer game raised $680 million.



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Pavan A

CBW - External Analyst

INDIA

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