Animoca Brands raises $110 million in strategic funding round

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Blockchain gaming and venture capital giant Animoca Brands (OTCMKTS:AMOCF) today confirmed sealing a $110 million strategic funding round as it seeks to advance the open metaverse, the company revealed via a press release.

The raise, which saw the company valued as at the previous round, came in the form of convertible notes of a 3-year maturity and can be converted at any time at the discretion of the note holder. However, the conversion is subject to set conditions applicable before the maturity date.

Animoca Brands eyes further expansion

According to today’s announcement, the investment was led by Singapore-based investment firm Temasek, Asia’s leading alternative asset manager Boyu Capital and global venture capital firm GGV Capital. Existing investors included Mirae Asset and True Global Ventures. 

In a comment on the entry of these new investors, Animoca Brand’s co-founder and executive chairman Yat Siu said:

“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry.”

The company will use the capital injection to push further with its strategic acquisitions agenda, direct more money towards investments and product development as well as secure intellectual property licenses.

Overall, the firm will look to leverage the funding to boost its footprint in the open metaverse, including via projects that advance the digital property rights of online consumers. 

Animoca Brands’ place as a leading blockchain game developer, venture capital investor, and digital entertainment provider has seen it invest in platforms such as Opensea, Yield Guild Games, and Axie Infinity and Dapper Labs. 

Some of its major subsidiaries include The Sandbox, Grease Monkey Games and Eden Games.​

In August, the company and sports NFT ecosystem Lympo announced a partnership with Play Magnus Group in a collaboration aimed at developing a blockchain-based chess game Anichess.

The post Animoca Brands raises $110 million in strategic funding round appeared first on Invezz.

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