Investment firm KKR ups Animoca Brands’ newest funding to $500 million

KKR & Co, a global investment firm based in the United States, has increased Animoca Brands’ latest funding round to $500 million, Bloomberg reports with anonymous sources familiar with the transaction. 

Animoca Brands had just come off the heels of a $358.88 million funding round on January 18, led by Liberty City Ventures and with participation from George Soros and the Winklevoss twins. The Hong Kong-based gaming and venture capital firm’s valuation still stands at $5 billion — but could soon be valued at $10 billion through additional funding rounds this year, Bloomberg’s sources report. 

KKR recently invested in other blockchain companies, such as giving $350 million to the crypto custodian Anchorage Digital in December of 2021. 

Animoca Brands is the creator behind blockchain-based gaming products such as the popular virtual world platform The Sandbox. The firm is also responsible for bringing forth Olympic Games Jam: Beijing 2022, a blockchain-based game inspired by the Olympics, through its subsidiary nWay.