thecoinrise.com
Hong Kong-based Animoca Brands has hit a $5 billion valuation milestone following its recent investment round where it raised $358.88 million. This valuation is notably more than double the massive treasury growth of $2.2 billion it attained back in October last year when it completed a $65 million round as of then.
This latest investment round was led by Liberty City Ventures, with participation from key investors including 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, ParaFi Capital, Provident, Senator Investment Group, Sequoia China, Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, and Winklevoss Capital amongst others.
Animoca Brands currently plays a major role in the emancipation of the gaming and general blockchain ecosystem.
The startup has a sizable investment in a number of game brands including The Sandbox and its associated utility token SAND, the upcoming Phantom Galaxies “AAA” blockchain third-person shooter, the REVV token ecosystem (REVV Racing, F1® Delta Time, MotoGP™ Ignition, and Formula E: High Voltage), the Arc8 platform and its GAMEE utility token amongst others.
Animoca Brands and Resource Allocation
Animoca Brands said it will use its latest liquidity boost “to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.”
The firm hopes to allocate its resources such that it can propound its efforts to build the open metaverse by bringing digital property rights to online users through the use of blockchain and NFTs. Investors have continued to recognize the strategic role of Animoca Brands in pioneering key blockchain innovations, and this notably informs the massive support the firm received in this latest funding round.
“We are pleased to see continued and growing support from influential and strategic investors for Animoca Brands’ mission to deliver true digital property rights and build the open metaverse. We have set ourselves the ambitious goals of building an open Web3 and facilitating an open metaverse that expands financial inclusion. In 2021 we saw tremendous growth in this space and Animoca Brands has been one of the forefront leaders in the development of this industry. We believe we are still at the initial stages of a new Internet revolution, and there are tremendous opportunities ahead of us in 2022 and beyond,” said Yat Siu, co-founder and executive chairman of Animoca Brands.
The Animoca Brands CEO is one of the few believers that NFT are a viable way to preserve culture, and he is committed to using the company’s resources in actualizing this.