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

Animoca Brands has introduced the blockchain and cryptocurrency-focused agency has raised $358.8 million to bolster the non-fungible token (NFT) business and “construct the open metaverse.” The capital increase follows the agency’s earlier $65 million and $138.88 million raises final yr and in the present day, Animoca Brands has an general 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 agency Animoca Brands is a world developer using common manufacturers, gamification, A.I., blockchain, non-fungible tokens (NFTs), and cell know-how. On Tuesday, the corporate introduced that the agency has secured $358.8 million in a financing spherical led by Liberty City Ventures.

In an announcement despatched to Bitcoin.com News, Animoca Brands additional detailed that different traders 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 utilizing the financing to extend NFT and metaverse adoption, Animoca Brands stated that the “new capital will likely be used to proceed funding strategic acquisitions and investments, product growth, and licenses for common mental properties.” Animoca Brands has a robust concentrate on constructing the metaverse by leveraging blockchain options and NFT know-how. The firm’s $358.8 million financing announcement provides:

Animoca Brands is working to construct the open metaverse by bringing digital property rights to on-line customers by way of the usage of blockchain and NFTs; these applied sciences allow the true digital possession of customers’ digital property and knowledge, and make doable numerous [decentralized finance] and gamefi alternatives (together with play-to-earn), asset interoperability, and an open framework that may result in larger equitability for all individuals.

The firm’s blockchain tasks embody The Sandbox metaverse and its SAND token, a blockchain third-person shooter referred to as Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and extra. The managing accomplice at Liberty City Ventures, Murtaza Akbar, detailed in the course of the financing announcement that Animoca Brands “is demonstrating to the world the game-changing traits of Web3 and the open metaverse.”

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