Animoca Brands ups valuation to US$5.9B despite slow markets
Animoca Brands has raised US$75 million in a new round of fundraising in a move toward an “open metaverse,” defying plummeting markets and a drop in non-fungible token (NFT) sales during the crypto winter season, the Hong Kong-based blockchain game specialist announced on Tuesday.
See related article: Animoca says crypto winter ‘a great time’ for venture capitalists
Fast facts
- The latest round marks Animoca’s fifth financing round since 2021, raising the company’s valuation to US$5.9 billion, according to a statement.
- Some of the company’s most successful investments were made during the previous crypto winter, Gen Kanai, director of strategic partnerships at the Hong Kong-based blockchain gaming studio, told Forkast last week.
- Animoca Brands says it will use the new capital to fund more acquisitions, advance product development, secure licenses for popular intellectual properties, and advance the company’s vision for an open metaverse.
- Animoca’s portfolio includes more than 150 NFT-related projects, including Axie Infinity developer Sky Mavis and NFT marketplace OpenSea.
See related article: Animoca Brands investments have crossed US$1.5B
