Home News Animoca Brands raised $65M at a valuation of $2.2B

Animoca Brands raised $65M at a valuation of $2.2B

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Hong Kong-based blockchain game developer Animoca Brands has announced the raising of $65 million in funding. The company’s pre-money valuation reached $2.2 billion.

Thus, investors included Tron founder Justin Sun, Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.

Moreover, according to the brand-focused metaverse and interactive content company; the latest funding will go toward financing strategic investments and acquisitions; product development and intellectual property licenses.

Establishing connections with major players in the gaming space

In addition, according to Yat Siu, co-founder and chairman of Animoca Brands, the company used interest from potential investors to establish connections with major players in the traditional gaming space.

Animoca Brands is a developer of non-fungible token (NFT) games F1 Delta Time, The Sandbox and others. Also, the company actively invests in the market of NFT; including OpenSea, Dapper Labs, Bitski, Star Atlas and Axie Infinity projects.

Recall that in May Animoca Brands raised $88.9 million. Among those who contributed were Kingsway Capital, RIT Capital Partners (formerly Rothschild Investment Fund); HashKey Fintech investment fund and other well-known investors.

Clear support

Later in July, the company received another $50 million from Coinbase Ventures, Samsung Venture Investment Corporation, Blue Pool Capital and others. “The high demand we saw in this fundraising is a clear support for Animoca Brands’ mission to provide gamers with digital property rights and create a metaverse,” said Yat Siu.

Previously in September, the developer signed a binding agreement to acquire a majority stake in the Bondly NFT platform. Investments in Bondly will stimulate the mass implementation of NFT in Animoca Brands portfolio companies working in the fields of gaming, sports, collectibles and others.

“Bondly technologies for NFT, including the exchange protocol; trading platform and interconnect bridges; will allow gamers to easily move assets from one blockchain to another,” the press release said.

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