Animoca Brands raises $75 million to grow business

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The company, an investor in metaverses, NFT platform OpenSea and game Axie Infinity, announced today that it has raised $75 million at a company valuation of $5.5 billion.

Animoca Brands will use the funds received toinvesting in popular Web3-related projects to bring more public attention to the fast-growing industry and metaverses. Among those who have invested in the company are such market players as Kingsway Capital, SG Spring Limited Partnership Fund, Liberty City Ventures, and Cosmic Summit Investments.

“Rights to digital propertyrepresent a society-defining generational shift that impacts everyone on the Internet and sets the stage for the emergence of an inclusive metaverse. We are glad that investors see us as a strong player in the market. We are working to strengthen Animoca Brands' leadership position in the Web3 and digital property industries,” said Yat Siu, executive chairman and co-founder of the company.

Animoca Brands is an investor in a number ofleading companies in Web3 such as Developer Sky Mavis, Dapper Labs. The company believes that over the next decade, people will understand and embrace the “revolutionary power” that blockchain-based digital asset ownership will bring to various aspects of life.

Earlier, Animoca Brands published a financial report in which it reported $1.5 billion invested over the past year in more than 340 projects related to the Web3 industry.