.jpeg)
Animoca Brands raises an additional $75 million, bringing valuation to $6 billion
Animoca Brands, an investor in non-fungible tokens (NFT) and the metaverse, has raised an additional $75 million at a $5.9 billion valuation.
Participants included current investors 10T, Kingsway, and Liberty City Ventures.
The funding round in January brought in approximately $360 million and valued the company at $5.5 billion, doubling Animoca's worth in less than three months. This fundraising effort is the second installment of that round. In October, the company raised $65 million at a valuation of $2.2 billion.
According to Animoca's Tuesday announcement, the January rise was delayed to account for due diligence procedures.
According to Animoca Brands, the money will be used to finance product development, investments, and acquisitions as well as to gain licensing for well-known intellectual assets and expand the open metaverse.
The blockchain game company Animoca Brands, which was established in 2014, created the well-known "The Sandbox" metaverse platform. According to the business, the additional funds would be used to finance strategic buyouts, investments, and product development as well as to gain licenses for well-known intellectual rights.
More than 150 NFT-related products are included in the company's portfolio, including the largest NFT trading platform OpenSea, the play-to-earn game Axie Infinity, and Dapper Labs (creators of NBA Top Shot). The Sandbox, a metaverse game, is primarily owned by Animoca.
The fundraising demonstrates that money is still finding its way to reputable companies in the sector, despite the bearishness in the market for digital assets.
