Metaverse

Animoca Brands Completes $75.3 Million USD Capital Raise for Metaverse Gaming

Bringing its valuation to $5.9 billion USD.

Metaverse

Animoca Brands Completes $75.3 Million USD Capital Raise for Metaverse Gaming

Bringing its valuation to $5.9 billion USD.

Blockchain game developer Animoca Brands announced on Tuesday, July 12, that it completed the second phase of its capital raise, totaling $75.3 million USD. This follows January’s funding round, which brought approximately $360 million USD and valued the company at $5.5 billion USD.

Now valued at $5.9 billion USD, the company has more than doubled its value in less than three months, ensuring it completed its due diligence processes as it completed its second funding round.

The new capital raised, according to the company, will allow Animoca Brands to continue funding strategic acquisitions, investments, product development, securing licenses for IP-heavy projects, and advancing the open metaverse through the promotion of digital property rights for online users.

“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse,” said Yat Siu, co-founder and executive chairman of Animoca Brands.

“We are deeply honored to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”

Elaborating on the role digital property rights will play in Web3, Manuel Stotz, founder and CEO of Kingsway Capital said that “the genie of digital property rights has been let out of the bottle” and that Internet users beginning to interact with this new technology won’t look back at the digital infrastructure that we’ve grown accustomed to in Web 2.0.

Investors in Animoca’s capital raise included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others.

In other news, Polygon Studios begins migrating Terra’s stranded NFT projects.

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