Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse – Finance Bitcoin News

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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 $358 Million in Financing Led by Liberty City Ventures, Blockchain Company Has Pre-Money Valuation of $5 Billion

The firm Animoca Brands is a global developer utilizing popular brands, gamification, A.I., blockchain, non-fungible tokens (NFTs), and mobile technology. On Tuesday, the company announced that the firm has secured $358.8 million in a financing round led by Liberty City Ventures.

In a statement sent to Bitcoin.com 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 financing to increase NFT and metaverse adoption, Animoca Brands said that the “new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.” Animoca Brands has a strong focus on building the metaverse by leveraging blockchain solutions and NFT technology. The company’s $358.8 million financing 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 GAMEE utility token, and more. The managing partner at Liberty City Ventures, Murtaza Akbar, detailed during the financing announcement that Animoca Brands “is demonstrating to the world the game-changing characteristics of Web3 and the open metaverse.”

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10T Holdings, Animoca Brands, Animoca Brands capital raise, Arc8 platform, blockchain games, Capital raise, digital property rights, Finance, Financing, Funding, Liberty City Ventures, Metaverse, Murtaza Akbar, nft, NFT adoption, NFT collectibles, NFT games, NFTs, Non-fungible Token, Phantom Galaxies, REVV Racing, Smile Group, soros fund management, Stable Asset Management, The Sandbox, Wildcat Capital Management, Winklevoss Capital, Yat Siu

What do you think about Animoca Brands raising $358.8 million in financing from strategic investors? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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