Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse


Animoca Brands has announced the blockchain and cryptocurrency-focused firm has raised $358.8 million to bolster the non-fungible token (NFT) industry and “build the open metaverse.” The capital raise follows the firm’s previous $65 million and $138.88 million raises last year and today, Animoca Brands has an overall valuation of $5 billion.

Animoca Brands Raises $358M in Funding Led by Liberty City Ventures, Blockchain Company Has Pre-Money Valuation of $5B

Animoca Brands is a global developer using popular brands, gamification, AI, blockchain, non-fungible tokens (NFTs), and mobile technology. On Tuesday, the company announced that it had secured $358.8 million in a funding round led by Liberty City Ventures.

In a statement sent to News, Animoca Brands further detailed that other investors included Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, and Parafi Capital.

In addition to using the funding to increase adoption of NFT and the metaverse, Animoca Brands said “the new capital will be used to continue funding strategic acquisitions and investments, product development, and licensing properties. popular intellectuals. Animoca Brands has a strong focus on building the metaverse by leveraging blockchain solutions and NFT technology. The company’s $358.8 million funding announcement adds:

Animoca Brands is working to build the open metaverse by bringing digital property rights to online users through the use of blockchain and NFTs; these technologies enable the true digital ownership of users’ virtual assets and data, and make possible various [decentralized finance] and gamefi opportunities (including play-to-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants.

The company’s blockchain projects include The Sandbox metaverse and its SAND token, a blockchain third-person shooter called Phantom Galaxies, REVV Racing, the Arc8 platform and its utility token GAMEE, and more. Liberty City Ventures Managing Partner Murtaza Akbar detailed during the funding announcement that Animoca Brands is “demonstrating to the world the groundbreaking characteristics of Web3 and the open metaverse.”


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