Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse – Finance Bitcoin News


Animoca Brands has introduced the blockchain and cryptocurrency-focused agency has raised $358.8 million to bolster the non-fungible token (NFT) business and “build the open metaverse.” The capital elevate follows the agency’s earlier $65 million and $138.88 million raises final yr and as we speak, Animoca Brands has an total valuation of $5 billion.

Animoca Brands Raises $358 Million in Financing Led by Liberty City Ventures, Blockchain Company Has Pre-Money Valuation of $5 Billion

The agency Animoca Brands is a world developer using well-liked manufacturers, gamification, A.I., blockchain, non-fungible tokens (NFTs), and cell know-how. On Tuesday, the corporate introduced that the agency has secured $358.8 million in a financing spherical led by Liberty City Ventures.

In a press release despatched to News, Animoca Brands additional detailed that different buyers included Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, and Parafi Capital.

In addition to utilizing the financing to extend NFT and metaverse adoption, Animoca Brands mentioned that the “new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.” Animoca Brands has a powerful give attention to constructing the metaverse by leveraging blockchain options and NFT know-how. The firm’s $358.8 million financing announcement provides:

Animoca Brands is working to construct the open metaverse by bringing digital property rights to on-line customers via the usage of blockchain and NFTs; these applied sciences allow the true digital possession of customers’ digital property and knowledge, and make attainable varied [decentralized finance] and gamefi alternatives (together with play-to-earn), asset interoperability, and an open framework that may result in higher equitability for all members.

The firm’s blockchain initiatives embrace The Sandbox metaverse and its SAND token, a blockchain third-person shooter known as Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and extra. The managing accomplice at Liberty City Ventures, Murtaza Akbar, detailed in the course of the financing announcement that Animoca Brands “is demonstrating to the world the game-changing characteristics of Web3 and the open metaverse.”

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10T Holdings, Animoca Brands, Animoca Brands capital elevate, Arc8 platform, blockchain video games, Capital elevate, digital property rights, Finance, Financing, Funding, Liberty City Ventures, Metaverse, Murtaza Akbar, nft, NFT adoption, NFT collectibles, NFT video games, NFTs, Non-fungible Token, Phantom Galaxies, REVV Racing, Smile Group, soros fund administration, Stable Asset Management, The Sandbox, Wildcat Capital Management, Winklevoss Capital, Yat Siu

What do you consider Animoca Brands elevating $358.8 million in financing from strategic buyers? Let us know what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for News concerning the disruptive protocols rising as we speak.

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