Metaverse Backer Animoca Brands Raises $65M at $2.2B Valuation

0
95

Animoca Brands, a outstanding investor in non-fungible tokens (NFT) and decentralized gaming, has accomplished a capital elevate of $65 million at a $2.2 billion valuation. the corporate introduced Wednesday.

The firm introduced Wednesday that buyers within the spherical embrace Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T, Token Bay Capital, Smile Group, Tess Ventures and MSA Capital.

The new capital will probably be used to fund strategic investments and acquisitions, product improvement and licenses for standard mental property, the corporate stated in a press launch.

Animoca Brands accomplished a $138.88 million elevate again in July, and the corporate’s valuation has now greater than doubled since its funding spherical of $88 million in May, which valued the corporate at $1 billion.

Read extra: Animoca Completes Funding Round, Gets an Extra $50M From Coinbase, Samsung

After hitting dwelling runs on its early investments in firms together with Axie Infinity, Dapper Labs and OpenSea, the corporate’s portfolio now consists of greater than 100 NFT-related ventures, it stated in a press launch.

Two current investments embrace Genopets, a challenge that introduces “move-to-earn” to the GameFi lexicon, and reNFT, an organization creating lending protocols for NFTs with rentable use instances.

Animoca Chairman Yat Siu sees a vibrant future for decentralized gaming based mostly on blockchain know-how.

“NFTs are really a digital store of culture. And we all engage in culture more than we engage in just money,” Siu informed CoinDesk in an interview. “People coming from finance often see crypto in financial terms, but with gaming, we’re coming at it from a cultural perspective.”