Animoca Brands Raises $75 Million to Continue Its Metaverse Expansion

Sir Coopernicus

In a move to further expand its footprint in the emerging Metaverse, Animoca Brands has raised over $75 million in new funding at a $5.9 billion valuation.

By pioneering decentralized game rewards and monetization stategies for projects building the metaverse, Animoca has established itself as one of the world's most important technology firms in blockchain gaming.

According to the announcement, Animoca Brands will use the new capital to fund strategic acquisitions, investments, and product development. This includes the acquistion of popular IP that can be converted into metaverse-ready products and experiences

Animoca already boasts an impressive list of over 340 projects, with some of our favorites listed here:

-The Sandbox

-WWE UNDEFEATED

-Phantom Galaxies

-Arc8

-SIEGECRAFT COMMANDER

Manuel Stotz' quote in the press release was particularly insightful: "The genie of digital property rights has been let out of the bottle, and the Internet users engaging with this revolutionary technology will not be returning to the digital servitude that is common in Web 2.0. The long-term growth trajectory of NFTs and similar ownership technology is extraordinarily steep, especially in emerging markets..."

Investors in this round were: Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and more.

Source: Animoca Brands raises over US$75 million to advance vision of open metaverse

Image Credit: Animoca Brands