Skip to main content

Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse

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.”

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.



from Bitcoin News https://ift.tt/3KqKFEi
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more