Skip to main content

Blockchain Gaming Publisher Animoca Brands Secures $75M — Firm’s Pre-Money Valuation Rises to $5.9B

Blockchain Gaming Publisher Animoca Brands Secures $75M — Firm's Pre-Money Valuation Rises to $5.9B

The non-fungible token and blockchain gaming company Animoca Brands has announced the firm has raised $75 million from investors such as Kingsway Capital, Liberty City Ventures, and others. The capital injection of $75 million brings Animoca’s overall pre-money valuation to $5.9 billion.

Animoca Brands Secures $75 Million to Bolster Digital Property Rights

The Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands has raised $75.32 million, according to an announcement published on July 12. The newly raised capital stems from investors like Cosmic Summit Investments, Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, and Generation Highway Ltd.

Animoca explained that the new funds will be dedicated toward funding “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties (IP), and advance the open metaverse.” The company plans to bolster the promotion of digital property rights with the funding as well.

The co-founder and executive chairman of Animoca Brands, Yat Siu, commented on the subject of digital property rights and the Web3 industry. “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. We are deeply honoured 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.”

The $75 million raised follows Animoca’s capital raise back in January when the company secured $358 million. At that time, Animoca noted that the $358 million would be used for acquisitions and IP licenses alongside using the financing to increase NFT and metaverse adoption. Animoca is behind blockchain projects such as The Sandbox, Tower Experiment, Tiny Tap, Arc8, Revv Motorsport, and Revv Racing. The company has also invested in crypto startups and Web3 projects like NBA Top Shot, Opensea, and Sky Mavis.

The Liberty City Ventures managing partner, Emil Woods, believes that Animoca Brands is a pioneer at the forefront of the blockchain, NFT, and gaming space. Woods estimates that in the next ten years society will welcome digital property and ownership offered by blockchain technology. “Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life,” Woods explained in a statement during Animoca’s funding announcement.

What do you think about Animoca Brands raising $75 million from investors? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/YKoeyUV
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