Blockchain gaming developer Animoca Brands today announced that it successfully closed a funding round for $110 million from the issuance of convertible notes.
Hong Kong blockchain gaming unicorn Animoca Brans has secured $110 million from investors including Singapore-based Temasek, GGV Capital, True Global Ventures (TGV), and Boyu Capital. The funding was conducted to support the firm’s mission to deliver quality property rights to users, including creating a new asset class – play-to-earn economics, and a more equitable digital framework. The deal comes after the company raised $75 million at a valuation of $5.9 billion in July, with participation from investors including Liberty City Ventures, Kingsway Capital, and Alpha Wave Ventures.
“Our new investors will contribute strategic advice and perspective,” co-founder of Animoca Brands Yat Siu said in a statement, describing it as a “special strategic round of fundraising.”
Animoca Brands was founded in 2011 and specializes in blockchain, gamification, and artificial intelligence technologies to advance digital property rights and contribute to the establishment of an open metaverse. Thus far, the firm has invested in over 340 to build its vision of the metaverse based on blockchain technology, in which users can buy and trade digital assets in the form of NFTs. According to the statement released by Animoca Brands, the investment raised will allow the company to make more acquisitions and investments, as well as product development and assist in securing intellectual property licenses.
Animoca’s products span cryptocurrency tokens, original games, and branded games in collaboration with other companies. The firm has previously worked with intellectual properties such as those from The Walt Disney Co., World Wrestling Entertainment Inc., Snoop Dogg, and The Walking Dead among others. The company also offers NFTs that are used in metaverse-related gaming projects.
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