Name Price24H (%)
Bitcoin (BTC)
$20,860.00
3.65%
Ethereum (ETH)
$1,220.73
7.69%
BNB (BNB)
$241.79
2.25%
Cardano (ADA)
$0.471121
3.27%
NFT Game Publisher Animoca Raises $75M—At Higher Valuation T...
News

NFT Game Publisher Animoca Raises $75M—At Higher Valuation Than Before Crypto Crash

Animoca Brands, a major backer of the metaverse and NFT gaming, announced today that it had raised $75 million at a valuation of $5.9 billion, a significantly smaller raise than last year—albeit at a slightly higher valuation. 

The company has invested in an array of leading Web3 companies including Dapper Labs, NBA Top Shots, OpenSea, and Axie Infinity Developer Sky Mavis.

It said in a statement that it will use the new funds for acquisitions, investments, and “popular intellectual properties” in a bid to further push the “metaverse” into public view.  

Investors backing Animoca include Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited. 

“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse,” said executive chairman and cofounder Yat Siu. “We are deeply honored to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”

“Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life,” added Emil Woods, managing partner of Liberty City Ventures. 

Animoca raising funds in throes of crypto bear market

The latest round reflects a growing sense of caution in crypto markets in the wake of the past few months’ precipitous crypto crash



Last year Animoca raised $359 million at a valuation of $5 billion, also led by Liberty City Ventures, and previously it raised around $139 million at a valuation of $1 billion. 

Animoca, which only invests in open, decentralized infrastructure, is an outspoken proponent of digital property and user-owned applications. 

It also develops its own games, most notably The Sandbox, an open-world multiplayer game that gives players tools to build their own, miniature games within that world.

Want to be a crypto expert? Get the best of Decrypt straight to your inbox.

Get the biggest crypto news stories + weekly roundups and more!

Source: Decrypt.co

Newsletter

Sign up to receive awesome content in your inbox, every day.

We don’t spam!

coinmag

Cryptocurrency news, blockchain news, markets news, cryptocurrency analysis, cryptocurrencies prices.