Blockchain Co. Animoca Brands raises $65M to expand NFT business
Blockchain company Animoca Brands announced on the 20th that it has raised $65 million in a recent funding round, taking the company’s valuation to $2.2 billion.
The Hong-Kong based firm has signed underwriting agreements with a number of companies and investors. A total of 43.85 million new shares were issued for about $1.48 per share.
As per the press release issued, participating companies in the investor round included Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Octava Fund, Adit Ventures, Sigitech Holdings, Black Anthem Ltd, and Mirana Corp.
The funds raised will be used for strategic investment, product development, and purchasing of licenses for popular IP (intellectual property).
Yat Siu, co-founder of Animoca Brands, told GamesBeat, VentureBeat dedicated gaming channel:
“This round includes a number of game companies that actually participated in the round, which is obviously important for various strategic purposes.
We weren’t originally looking to raise another round, but some of the partners that we had viewed as strategic people wanted to work with us and collaborate on potential blockchain games and licensing deals. That led to this round.”
Animoca is a Hong Kong-based game company that uses blockchain and AI. It aims to provide online users with proof of digital ownership by leveraging blockchain and NFTs within games and the Metaverse.
In July 2021, it had completed raising about $138 million with plans to provide digital ownership through NFTs.
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