Animoca Brands, a non-fundable token and blockchain gaming company, announced that the company has raised $75 million from investors including Kingsway Capital, Liberty City Ventures announced that it has raised $75 million; the $75 million capital infusion brings Animoca’s overall premoney valuation to $5.9 billion.
Animoca Brands Secures $75 Million to Strengthen Digital Property Rights
Hong Kong-based cryptogaming, NFT, and venture capital firmhas raised $75.32 million for Animoca Brands, according to an announcement released on July 12. The newly raised capital comes from Cosmic Summit Investments, Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, and Generation Highway Ltd, and other investors.
Animoca explains that it will use the new funds for “strategic acquisitions, investments, product development, securing licenses for popular intellectual property (IP), and promoting open metaverse.” The company plans to also use the funds to strengthen its promotion of digital property rights.
Yat Siu, co-founder and executive chairman of Animoca BrandsYat Siucommented on the subject of digital property rights and the web3 industry, saying “Digital property rights represent a generational shift that will define society, affect everyone online, and set the stage for the emergence of an open metaverse. We are deeply honored to continue to receive strong investor support to solidify Animoka Brands’ leadership position in the Web3 industry and in true digital property rights.”
The $75 million raise follows a capital raise in January when Animoca secured $358 million. At that time, Animoca noted that the $358 million would be used for acquisitions and IP licensing, as well as funding to expand adoption of NFT and Metaverse.Animoca has also raised $758 million from The Sandbox, Tower Experiment, Tiny Tap, Arc8, Revv Motorsport, and Revv Racing. The company has also invested in crypto startups and web3 projects such as NBA Top Shot, Opensea, and Sky Mavis.
Emil Woods, Managing Partner of Liberty City Ventures, believes that Animoka Brands is a pioneer at the forefront of the blockchain, NFT, and gaming sectors.Woods believes that in the next 10 years, the society will welcome the digital property and ownership that blockchain technology offers, he estimates.” In the next decade, humanity will discover and embrace the game-changing power that ownership of digital assets based on blockchain brings to countless aspects of everyday life.” Woods explained in a statement during Animoca’s funding announcement.
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