Animoca Brands Raises $75M to Advance 'Open Metaverse' Concept
The company behind The Sandbox continues to attract significant investment as it considers new acquisitions in gaming -to-earn and metaverse.
New
Blockchain venture capital and gaming studio Animoca Brands has closed another round of strategic funding, giving the company additional resources to expand its acquisition targets in the metaverse sector.
The company announced on Tuesday that it has closed a $75.32 million funding round at a pre-money valuation of $5.9 billion, backed by Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures , 19T, SG Spring Limited Partnership Fund and others. The raise represents the "second tranche" of funding after a $358.8 million raise in January, backed by venture capital giants Sequoia China, Winklevoss Capital, ParaFi Capital and 10T Holdings.
Animoca said the new capital will fund strategic acquisitions, product development and intellectual property licensing as it seeks to advance the so-called "open metaverse" concept. The company said it plans to continue using blockchain technology, including non-fungible tokens (NFTs), decentralized finance, and GameFi, to promote digital property rights.
Metaverse and Web3 are the future, but how can you be part of it?
Discover the opportunities and skills that can give you the edge in this emerging space. https://t.co/D9wGY0zEzt
— Cointelegraph (@Cointelegraph) May 31, 2022Despite the presence of a bear market in digital assets, Animoca actively expanded its portfolio in 2022. In April, the company...
The company behind The Sandbox continues to attract significant investment as it considers new acquisitions in gaming -to-earn and metaverse.
New
Blockchain venture capital and gaming studio Animoca Brands has closed another round of strategic funding, giving the company additional resources to expand its acquisition targets in the metaverse sector.
The company announced on Tuesday that it has closed a $75.32 million funding round at a pre-money valuation of $5.9 billion, backed by Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures , 19T, SG Spring Limited Partnership Fund and others. The raise represents the "second tranche" of funding after a $358.8 million raise in January, backed by venture capital giants Sequoia China, Winklevoss Capital, ParaFi Capital and 10T Holdings.
Animoca said the new capital will fund strategic acquisitions, product development and intellectual property licensing as it seeks to advance the so-called "open metaverse" concept. The company said it plans to continue using blockchain technology, including non-fungible tokens (NFTs), decentralized finance, and GameFi, to promote digital property rights.
Metaverse and Web3 are the future, but how can you be part of it?
Discover the opportunities and skills that can give you the edge in this emerging space. https://t.co/D9wGY0zEzt
— Cointelegraph (@Cointelegraph) May 31, 2022Despite the presence of a bear market in digital assets, Animoca actively expanded its portfolio in 2022. In April, the company...
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