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Animoca Brands raises $75 million to create an open metaverse

The company raised the money at a $5.9 billion valuation

Animoca Brands announced today that it has successfully raised $75.32 million at a $5.9 billion valuation. The current fundraising represents the second instalment of the investment that was initially announced on January 18, 2022, but was delayed to allow for due diligence procedures.

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

The fund will be used to focus more on Blockchain Games

With the additional funding, Animoca Brands will be able to continue financing strategic purchases, investments, and product development as well as secure licences for well-known intellectual properties and advance the open metaverse, including by working to advance the rights of online users to their digital property.

metaverse wallpaper, metaverse summit
Image via The Metaverse Summit

Animoca Brands is working to deliver true digital ownership of users’ virtual assets and data using technologies like blockchain and NFTs. This will enable various DeFi and GameFi opportunities (including play-and-earn), asset interoperability, and an open framework that can increase equity for all participants in the open metaverse.

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. We are deeply honoured 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.”

Yat Siu, co-founder and executive chairman of Animoca Brands

The company pioneered and innovated decentralised in-game awards and monetization in video games for the growing open metaverse, establishing itself as one of the world’s top technical organisations in blockchain and gaming.

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