Animoca Brands announced its successful capital raise of around $75 million. This is the second tranche of funding, as the initial round took place on 18 January 2022. The current tranche’s investors include Kingsway Capital, Liberty City Ventures, Alpha Ventures, 10T, Generation Highway Ltd, and many more.
Animoca will use the capital to fund product development, strategic acquisitions, investments, and certain intellectual property licenses to continue with the open metaverse. Using technologies like NFTs and Blockchain, Animoca Brands will deliver true virtual ownership of the digital data and assets of the users, allowing several GameFi and DeFi opportunities and asset interoperability that will lead to higher equitability for the participants of the open metaverse.
Animoca Brands has signed Subscription Agreements with knowledgeable and experienced traders to issue 23,237,058 more shares for a net subscription price of US$75.32 million (or around A$104.57 million). After this issuance, Animoca Brands will have 1,836,142,334 fully paid common shares in circulation.
Executive chairman and co-founder of Animoca Brands, Yat Siu stated that virtual property rights signify a community-defining general shift that affects every person online and sets the framework for developing an open metaverse. The company appreciates the strong support received from investors and plans to solidify Animoca’s leadership position in the web 3.0 industry.
Liberty City Ventures’ managing partner, Emil Woods, stated that in the next 10 years, humans would explore and accept the game-changing technology that digital ownership of blockchain-based assets will introduce to innumerable elements of our daily lives.
CEO and founder of Kingsway Capital, Manuel Stotz, commented that the NFT growth trajectory in the long term and the ownership technology would be extraordinarily steep, particularly in emerging digital markets. The company is delighted to continue its partnership with Animoca, which has owned its position and has emerged from the 2018-19 crypto winter with a stronger and larger business.
A Deloitte Tech Fast winner, Animoca Brands is the world ranking company and the leader in blockchain, gamification, and digital entertainment, operating to advance virtual property rights and contribute to the development of open metaverse. Animoca publishes and develops a long portfolio of different products, including SAND token and REVV token, original games like Crazy Kings, Crazy Defence Heroes, and the Sandbox; as well as products using well-known intellectual properties such as WWE, Disney, Snoop Dogg, Power Rangers, The Walking Dead, and Formula E. Animoca has several subsidiaries such as Blowfish Studios, the Sandbox, the Eden Games, Grease Monkey Games, Lympo, Darewise, Tiny Tap, and Notre game. It has an ever-growing portfolio of over 340 investments, including Open Sea, Axie Infinity, Colossal, Dapper Labs, Harmony, Star Atlas, and many more.
Source: https://www.cryptonewsz.com/animoca-brands-raised-more-than-us75mn-usd-for-an-open-metaverse/