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 strengthen digital property rights
Hong Kong-based crypto gaming, NFT and venture capital firm Animoca Brands has raised $75.32 million, according to an announcement posted on July 12. The newly raised capital comes from investors including 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 topic of digital property rights and the Web3 industry. “Digital property rights represent a defining generational shift for society that impacts everyone online and will pave the way for the emergence of the open metaverse. We are deeply honored to continue to have strong investor support as we work to solidify Animoca Brands’ leadership position in the Web3 industry and in the realm of true digital property.
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.
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 believes that in the next ten years the company will welcome the digital ownership and ownership offered by blockchain technology. “Over the next decade, humanity will discover and embrace the revolutionary power that blockchain-based digital ownership of assets will bring to countless aspects of daily life,” Woods explained in a statement during the announcement. funding from Animoca.
