Animoca Brands, a Hong Kong-based blockchain game and virtual property developer, has successfully raised $65 million in its latest funding round.
In an October 20 announcement, the Hong Kong blockchain gaming firm confirmed the successful completion of a funding initiative that has now pushed its valuation to $2.2 billion. The funding initiative saw the participation of several gaming giants including, Ubisoft Entertainment, Liberty City Ventures, Sequoia China, Dragonfly Capital, to name but a few.
Notably, Animoca’s successful funding is a great achievement so far. The blockchain gaming firm once saw the intensified wrath of the Australian Securities Exchange (ASX) for its involvement in crypto in March 2021.
Animoca has also revealed that it plans to auction more than 43.8 million newly issued shares to investors at a reasonable price of AUD$2 per share, or USD $1.51.
We have closed a capital raise for US$65 million conducted at a pre-money valuation of US$2.2 billion! Investors in the round included Ubisoft, Sequoia China, Dragonfly Capital, and more.https://t.co/Au7ioVycGy#fundraising #unicorn #OpenMetaverse #DigitalPropertyRights
— Animoca Brands (@animocabrands) October 20, 2021
The company has now secured roughly $203.88 million since the start of this year. Remarkably, the gaming firm has acquired crypto unicorn status after successfully raising $138.88 million in two funding initiatives that left its valuation at $1 billion in June.
The blockchain gaming firm said it now plans to invest the latest funding in:
“strategic investments and acquisitions, product development, and licenses for popular intellectual properties.”
While commenting about firm development, Yat Siu, the Co-founder of Animoca, maintained that his company is now focused on digital ownership and NFTs moving forward:
“In 2018, we laid out a strategy based on our assessment that in the future digital property rights would revolutionize industries by expanding financial inclusion and that this significant change would start with NFT adoption in games. That future is already here.”
“With the backing of our new strategic investors, Animoca Brands will continue to advance blockchain in gaming — and beyond — to introduce billions of gamers and Internet users to true digital ownership.”
The Animoca Brands’ move is another sign of massive funds invested in NFT gaming and virtual property-focused firms.
In a related development, Galaxy Interactive, a venture capital firm focused on younger-generation interactive technology, announced that it had successfully secured fresh $325 million from 70 different investors on October 19.
The company confirmed that it now plans to invest its funds in virtual and augmented reality, artificial intelligence, and NFT gaming.