Blockchain Gaming Juggernaut Hits $5.5B Valuation As Tamadoge Approaches Price Increase
Blockchain gaming company, Animoca Brands, has achieved an enterprise value of $5.5 billion following the completion of its latest fundraising round that attracted $75.3 million from investors including Liberty City Ventures and Kingsway Capital.
Animoca Brands has invested in over 340 blockchain gaming companies to date as they seek to build out their vision for a gaming metaverse underpinned by Web3 technology. In addition to its growing portfolio of investments, Animoca’s subsidiaries also develop in-house blockchain games, notably The Sandbox metaverse, the educational app TinyTap, the REVV Motorsport racing series and many more.
Through the development of The Sandbox, Animoca formed fruitful partnerships with major brands and celebrities, such as Adidas, Snoop Dogg, The Walking Dead, Deadmau5, Atari, Rollercoaster Tycoon, Care Bears, The Smurfs and many more.
Blockchain Gaming – Is GameFi Set To Explode?
The gaming wing of the blockchain space alone, known as GameFi (gaming finance), is expected to achieve a global valuation of over 2.8 billion dollars in the next six years.
Even in the midst of the current bear market, which has so far seen $2 trillion wiped off global market capitalization, a steady increase is noted in the number of daily active users and the number of transactions registered in the GameFi area.
The bear market has also not affected the speed of innovation in the blockchain gaming space, as more new projects continue to launch every day.
Tamadoge (TAMA) is an upcoming blockchain game that bridges the gap between beloved digital pet games like Tamagotchi, and iconic meme coins like Dogecoin (DOGE). Players must feed and nurture their pets to adulthood, earning “Dogepoint” rewards in the process. Tamadoge aims to bring utility to a meme coin space that receives a lot of media attention, but has so far failed to offer tangible use cases or practical applications.
Meme coins became a household term in the cryptocurrency space in recent years, fueled by high-profile endorsements of the original meme coin – Dogecoin – by Tesla CEO Elon Musk.
Tamadoge’s TAMA tokens are currently available in a presale, which has raised over $13 million in just over a month. The pre-sale is currently in its seventh phase, where 1 USDT is equal to 40 TAMA. The eighth phase of the presale will see the token price increase to a rate of 1 USDT to 36.36 TAMA.
