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Animoca brands, the company bringing digital property rights to players via non-fungible tokens (NFTs), raised an additional $ 50 million today, bringing its latest funding round to $ 138.88 million.
The Hong Kong company’s pre-currency valuation is $ 1 billion. Investors in this second tranche included Blue Pool Capital, Coinbase Ventures, Gobi Partners, Korea Investment Partners, Liberty City Ventures, Samsung Venture Investment Corp., Scopely, Token Bay Capital, zVentures (the venture capital arm of Razer Inc.) and other leading investors.
In the first installment of the increase, Animoca brands raised $ 88.88 million based on a valuation of $ 1 billion in May.
Animoca Brands focuses on bringing digital property rights to video players and the metaverse through the use of NFT, which can authenticate digital collectibles, and blockchain, the secure and transparent digital ledger that is the underlying technology behind cryptocurrencies.
Animoca games like F1 Delta Time offer REVV tokens as rewards for players who engage in the games. And Animoca’s sandbox offers SAND tokens that people can use to buy land or buy and sell items in the sandbox world. Players in the sandbox can craft NFT items and sell them in a marketplace.
The new capital will be used to fund strategic investments and acquisitions, product development and licenses for popular intellectual properties.
Animoca Brands has also invested in the blockchain gaming industry, with investments in Dapper Labs, Opensea, Bitski, and Axie Infinity, among others.
With the recent launch of GAME, TOWER and LMT tokens, Animoca Brands is one of the world’s leading technology groups at the forefront of using blockchain-based in-game rewards and creating innovative ways to monetize them. video games. . .
Yat Siu, chairman of Animoca Brands, said in a statement that the company is honored to welcome strategic investors who offer powerful opportunities for synergy and partnership. The strong demand the company has seen for the increase is a clear endorsement of Animoca Brands’ mission to provide digital property rights to gamers and build the metaverse, he said.
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