The Hong Kong-based blockchain gaming company recently closed its investment round, bringing its valuation to $5 billion. The round was led by Liberty City Ventures and Animoca also raised funds from Winklevoss Capital and Sequoia China. This was a massive success for the brand and will spearhead their entry into the Metaverse.
Animoca Brands have been performing solidly in their past investment rounds as well. In their last round in October, the firm raised $65 million from Sequoia and Ubisoft, which brought their total funding to $216 million. But with the latest round, they have achieved new ground and also raised the company valuation by close to $3 billion.
Animoca Brands has made a fortune in the Blockchain and Cryptocurrency segment and now it is eyeing the video gaming sector as well as the Metaverse. The company achieved success through blockchain-based projects such as The Sandbox and REVV, alongside investing in the NFT market as well. They are also investors in a number of Metaverse-operated firms that will be crucial towards the future.
The co-founder and chairman of Animoca, Yat Sui, stated that Animoca Brands aims to create a financially inclusive Web3. They have targeted this sector as there has been rapid development, and they will be spearheading this growth. The $359 million raised will ensure that the brand can successfully channel its projects into multiple directions, and create a blockchain-based gaming universe within the Metaverse.
This whopping sum comes from a number of investors such as 10T Holdings, Gobi Partners Greater Bay Area, C Ventures, Delta Fund, Gemini Frontier Fund, L2 Capital, Mirae Asset, Soros Fund Management, Pacific Century Group, ParaFi Capital, Provident, Senator Investment Group, Smile Group, Kingsway, Stable Asset Management, and Wildcat Capital Management.