What is Animoca Brands? Multi-Billionaire NFT Game Publisher Backed by Giants

News hardware What is Animoca Brands? Multi-Billionaire NFT Game Publisher Backed by Giants

Although artistic NFTs have faced a lot of apathy after their speculative peak, many players are trying to show a different utility with these virtual certificates. Animoca brands, ambitious about blockchain technology in games, is one of the publishers that wants to build tomorrow’s web3 gaming – by putting non-fungible token technology (NFT) at the center.

NFTs for players, the Animoca brands project

Animoca Brands is a Hong Kong-based game publisher that focuses on “bringing digital property rights to video game players and the metaverse through the use of blockchain and non-fungible tokens (NFTs).”

By using these new technologies, the company wants to create a new economic model for players by giving them real digital ownership of the “uses” of the games.

Specifically, in Counter Strike, when you buy or unlock a weapon skin, it’s not really yours – Steam owns it. By using NFT technology, Animoca wants to overcome this problem. In fact, if this skin is an NFT, then its owner has many tools that allow him to use his available as he likes and thus assert his right to virtual property. So he can remove it from the platform, sell it or even use it in another game if the skin is interoperable.

In addition, Animoca wants to rely on these innovations to more gratefully reward the creators and developers of its ecosystem. In this sense, the company pays 95% of the profit while keeping 5% commission.

If the adoption seems a little far due to the reluctance of some players, Animoca Brands is already experimenting with several games with this type of functionality.

Animoca brands: the giant of NFT-enhanced games

Initially seen as a classic mobile game company, Animoca brands quickly followed the path of the new so-called web3 technologies. In 2018, the company started initial funding in sectors such as blockchcain (technology behind cryptocurrencies and NFTs).

After its many acquisitions, the developer quickly became a gaming pioneer specializing in the metaverse and NFTs.

For example, the company has several free-to-play titles that embed cryptocurrencies or NFTs:

  • Beast Quest, a “Clash Royale like” mobile game boosted by NFTs
    What is Animoca Brands?  Multi-Billionaire NFT Game Publisher Backed by Giants
  • Crazy Defense Heroes, a strategic mobile game where you can be rewarded with TOWER tokens
    What is Animoca Brands?  Multi-Billionaire NFT Game Publisher Backed by Giants
  • Axie Inifitny, the fighting game that puts NFTs and cryptocurrencies (AXS SLP)

    Axie Infinity

    What is Animoca Brands?  Multi-Billionaire NFT Game Publisher Backed by Giants

Apart from web3 games, the company has also invested heavily in the metaverse. It especially owns The Sandbox, the French metaverse that is one of the most popular virtual worlds.

Through these many acquisitions, Animoca Brands is undoubtedly a leader in games of this new genre, but the company does not intend to stop there…

Animoca Brands in some numbers

In a logic of progress, Animoca Brands continues to raise millions. In 2022, the company increased its outstanding fundraising.

Last January, Animoca announced that it had raised more than 350 million euros. At the beginning of September, the company reiterated that it had more than 110 million euros accumulated. Among the investors, there are well-known players such as Samsung Ventures or zVentures (a branch of Razer Inc. investment).

These large investments bring the company’s valuation to approximately more than 5.4 billion euros.

“We are honored and excited to welcome strategic investors who offer strong opportunities for synergy and partnership. The strong demand we see from this fundraiser is clear support for the mission of Animoca Brands will provide digital property rights to players and build the Metaverse,” said Yat Siu, President of Animoca Brands.

A publisher, developer and investor, Animoca Brands seems determined to develop a practical use of NFTs in the video game industry. However, the company found that this new type of game was struggling to be adopted. Thus, for now, the company is taking small steps and mainly focusing on low-end mobile games.

Leave a Comment