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The non-fungible token and blockchain gaming company Animoca Brands has announced that the company has raised $ 75 million from investors such as Kingsway Capital, Liberty City Ventures and others. The $ 75 million capital injection brings Animoca’s total pre-cash valuation to $ 5.9 billion.
Hong Kong-based cryptocurrency, NFT and venture capital firm Animoca Brands has raised $ 75.32 million, according to a July 12 announcement. The recently raised capital comes from investors such as Cosmic Summit Investments, Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund and Generation Highway Ltd.
Animoca explained that the new funds will be dedicated to financing “strategic acquisitions, investments and product development, securing popular intellectual property (IP) licenses, and promoting the open metaverse.” The company plans to strengthen the marketing of digital property rights with the financing as well.
Co-founder and CEO of Animoca Brands, Yat Siu, commented on the topic of digital property rights and the Web3 industry. “Digital property rights represent a socially defining generational change that is affecting everyone online and will set the stage for the emergence of the open metaverse. We are deeply honored to continue to enjoy strong investor support as we work to strengthen Animoca Brands’ leadership position in the Web3 industry. and in true digital ownership. ”
The $ 75 million raised follows Animoca’s capital raising back in January when the company secured $ 358 million. At the time, Animoca noted that $ 358 million would be used for acquisitions and IP licenses in addition to using the funding to increase NFT and metavers adoption. Animoca is behind blockchain projects such as The Sandbox, Tower Experiment, Tiny Tap, Arc8, Revv Motorsport and Revv Racing. The company has also invested in crypto startups and Web3 projects such as the NBA Top Shot, Opensea and Sky Mavis.
Liberty City Ventures’ managing partner, Emil Woods, believes that Animoca Brands is a pioneer at the forefront of blockchain, NFT and the gaming industry. Woods estimates that society over the next ten years will welcome digital real estate and ownership offered by blockchain technology. “Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital asset ownership will bring to countless aspects of daily life,” Woods explained in a statement during Animoca’s announcement of funding.
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