Successful game publisher Animoca Brands, which also invests in a significant number of diverse and varied projects, has just completed a $75 million fundraising round. The company wants to focus on the right to digital property, which it says is a decisive point for the future of metaverses.
Animoca Brands Gets $75 Million to Expand
The bear market can sometimes reveal curious contrasts. Where some companies have to lay off staffare forced to stop withdrawals on their platform or are dragged into the collapse of colossal investment funds, some keep preparing their future†
Animoca brandsthe successful company specializing in non-fungible tokens (NFTs) and the metaverse has just launched a fundraiser of more than $75 million† The latter immediately follows the previous one that was carried out in January of this year, which means that the company valuation of over $5 billion†
The round table, led by the investment fund Liberty City Ventureswas brought together by a plethora of investors such as Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund and Generation Highway Ltd.
The founder and CEO of investment fund Kingsway Capital, Manuel Stotzwas enthusiastic about his investment in Animoca Brands:
“The long-term growth trajectory of NFTs and similar proprietary technologies is extremely steep, especially in emerging markets. We are excited to expand our partnership with Animoca Brands, who made their mark by coming out of the previous crypto winter of 2018-2019 with a much bigger and stronger company. †
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Development on multiple fronts
According to Animoca Brands’ press release, this new capital injection will enable the company to continue to: finance strategic acquisitionsto invest massively and to obtain intellectual property licenses.
The company will also continue to contribute to the evolution of the metaverse, notably through: promoting digital property rights for usersturn to the future of these virtual worlds, according to Yat Siuthe executive director of Animoca Brands:
“Digital property rights represent a defining generational shift for society affecting everyone online and paving the way for the emergence of the open metaverse. †
Animoca Brands has already invested heavily in Web 3.0, especially through Sky Mavis (the developer of Axie Infinity), and in projects as diverse and varied as Polygon (MATIC), Ledger, The Sandbox (SAND), Yield Guild, the Kraken exchange or the OpenSea platform.
In its latest financial statement, published in April, Animoca Brands stated that its investment portfolio was worth $1.5 billion and those are reserves of digital assets were worth approximately $4.2 billion†
NFTs and Metaverses bear the brunt of the bear market though† June was indeed the worst month of the year in terms of volume for non-fungible tokens.
👉 Also Read: GameStop launches a public beta of its NFT platform
Source: Animoca Brands Blog
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