Animoca Brands, a leading metaverse and NFT gaming backer, today announced it has raised $75 million at a valuation of $5.9 billion, a significantly lower increase than in the year. last, but at a slightly higher valuation.
The company has invested in a range of Web3 companies such as Dapper Labs, NBA Top Shots, OpenSea and Axie Infinity Developer Sky Mavis.
He said in a statement that he would use the new funds for acquisitions, investments and “popular intellectual properties” in an effort to further push the “metaverse” into public view.
Investors supporting Animoca include Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited.
Animoca, who only invests in open and decentralized infrastructuresis a strong advocate for digital property and user-owned applications.
“Digital property rights represent a defining generational shift for society that affects everyone online and will pave the way for the emergence of the open metaverse,” said Executive Chairman and Co-Founder Yat Siu. “We are deeply honored to continue to have strong investor support as we work to solidify Animoca Brands’ leadership position in the Web3 industry and in the realm of true digital ownership.”
“Over the next decade, humanity will discover and embrace the revolutionary power that blockchain-based digital asset ownership will bring to countless aspects of daily life,” added Emil Woods, Managing Partner of Liberty City Ventures. .
Animoca Raises Funds Amid Crypto Bear Market
The latest cycle reflects a growing sense of caution in the crypto markets following the precipitous crypto crash of the past few months.
Last year, Animoca raised $359 million at a $5 billion valuation, also led by Liberty City Ventures, and previously it raised around $139 million at a $1 billion valuation.
“There is certainly greater caution following the crypto crash, which is to be expected,” an Animoca spokesperson said. Decrypt. “I would also add that this is a positive development, at the end of the day it is still a lot of capital being deployed, but it is to be expected that there will be better transactions and less competition on transactions overall.We plan to continue to grow, acquire and invest.
The spokesperson also pointed out that “much of the groundwork for [the company’s] current success was established in the previous crypto winter of 2018-2019,” when the company transitioned to blockchain.
It was also when the company acquired Pixowl, the developer of the open-world game The Sandbox, which Animoca reworked with web3 elements. This game gives players tools to create their own miniature games and is one of the most popular in the Web3 space.
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