Animoca Brands Raises $ 75M to $ 5.9B Value to Invest in Blockchain Games

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Animoca Brands said it completed its second round of $ 75.3 million in funding from earlier this year, valued at the company at $ 5.9 billion.

The blockchain gaming company will use the funds to invest in multiple games and advance the “open metaverse” vision.


The current increase is the second round of funding previously announced in January. This cycle is extended to accommodate due diligence processes.

Investors in the current tranche include Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited and others.

Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, said in a statement, “Digital property rights represent a generational shift that identifies society that will affect everyone online and pave the way for the emergence of are very pleased to continue to have strong investor support as we work to strengthen Animoca Brands ’leadership position in the Web3 industry and in the field of digital real estate.

I asked if there was a strategy behind the timing of the funding. Siu said in an email response, “The devastating dotcom crash of 2000 did not kill the thriving internet. The devastating financial crisis of 2008 did not stop the rapid growth of the Internet, smartphones or smartphones. mobile gaming.The icy winter of crypto in 2018 hasn’t extinguished the flame of crypto.All of these events seem like a brutal end to their time, but if you can go back to 2000, 2008, and 2018, you haven’t Problem of choosing the winning team that seems – at the time – inevitable to be destroyed.

He added, “Similarly, current market conditions will not kill Web3, the open metaverse, NFTs, or cryptocurrencies. There will be bumps in the road, cyclical variation, and the occasional black swan event, but the map of the future can be read. nor anyone taking a wider, taller look.

He points out that in 2018 and 2019, Bitcoin will at one point be around $ 3,000 and Eth (Ethereum’s currency) will be under $ 100.

“It may be winter. But, if so, then 2018/19 is more than ice age. We have invested in companies (Klang, Planetarium recently) and also got a company this season (Tiny Tap), I think we clearly feel that way, ”he said. “This is one of the best times to invest from an entry point (and true valuation) perspective and we’re not alone in this.”

Siu said he is grateful to investors who support the market and believe in the long -term vision. He noted that funding, like all funds, is not about today but about tomorrow.

The company also said, “There is no specific time strategy. We have been working on this increase for a long time, but the closure has been delayed (as mentioned in the announcement) due to due diligence on completion.

Animoca Brands will use the new capital to continue funding strategic acquisitions, investments, and product development, securing licenses for popular intellectual property, and developing the open metaverse, including already through its efforts to promote digital property rights for online users.

This is not easy to do as a “cryptocurrency winter” has already begun as crypto prices fall, making investors and users of crypto feel like they don’t have as much money as before. Add to that inflation and fears of a global economic downturn, and many in the industry fear that blockchain gaming companies could run out of money before bringing their products to market.

In the first quarter, blockchain games accounted for a third of all game funding, according to Drake Star Partners. And blockchain gaming locations account for up to 90% of all locations that enter gaming VCs. But that may be slow now.

Animoca Brands is a true believer in the blockchain and non-fungible token (NFT) market, using blockchain to validate unique digital objects. Animoca Brands has a growing portfolio of over 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and more.

Yat Siu is the Executive Chairman of Animoca Brands.

Emil Woods, Managing Partner at Liberty City Ventures, said in a statement: “Over the next decade, people will discover and embrace the game-changing power that blockchain-based digital asset ownership brings. many businesses.countless aspects of daily life.We are proud to support Animoca Brands, a highly talented group of visionaries and founders who spearheaded this movement to embrace and deliver on the promise of Web3 .

The company wants to offer real digital ownership of virtual assets and user data, enabling a variety of DeFi and GameFi opportunities (including gambling and revenue), asset interoperability, and an open framework that can lead to greater equity for all participants in the open metaverse.

Manuel Stolz, CEO of Kingsway Capital, said: “The genius of digital property rights is being taken out of the bottle, and internet users engaging with this revolutionary technology will no longer return to the digital slavery common to the web. 2.0 .The long development trajectory of NFTs and similar proprietary technologies is even higher, especially in emerging markets.We are excited to grow our ongoing partnership with Animoca Brands, which has earned in its strides by advancing from last crypto winter in 2018-2019 with a bigger and stronger company.

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