Animoca Brands raises $75M at $5.9B valuation

Blockchain gaming operator Animoca Brands has raised $75.32 million. The company’s preliminary valuation has reached $5.9 billion.

The funding is a continuation of a January round, during which the firm raised about $359 million. The delay for the second tranche was caused by the need for additional compliance checks.

Companies supporting Animoca Brands include:Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited and Liberty City Ventures.

The firm will use the funds raised to fund further strategic acquisitions, product development, digital property licenses, and promotion of 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 an open metaverse,” said Yat Siu, executive chairman and co-founder of Animoca Brands.

The Hong Kong firm is the publisher of a number of gameslike The Sandbox, Crazy Kings and Crazy Defense Heroes, as well as intellectual property-based digital products. Animoca Brands owns several subsidiaries including Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game and TinyTap.

The firm actively invests in Web3 projects.Its portfolio includes more than 340 positions, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas and others.

Recall that in the first quarter of 2022, the volume of investments in blockchain games amounted to $2.5 billion against $4 billion in the entire previous year.

Read ForkLog bitcoin news in our Telegram - cryptocurrency news, courses and analytics.