Animoca Brands’ Valuation Surges to $5.5 Billion With Fresh $360 Million Funding

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The company develops blockchain gaming software and invests in NFT and metaverse projects.

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Animoca Brands has raised $360 million in a fresh round of funding. As such, the valuation of the Hong Kong-based company has doubled since October 2021 to $5.5 billion.by Liberty City Ventures along with Winklevoss Capital and Soros Fund Management.The dramatic spike in Animoca Brand’s valuation comes in the wake of the global NFT business growing from under $100 million in 2020 to nearly $25 billion in 2021. About 20% involves blockchain-based gaming software.

Animoca Brands, which has raised around $700 million so far, looks well-positioned to benefit from the booming NFT and gaming segment of the blockchain industry.“We believe we are still at the initial stages of a new internet revolution, and there are tremendous opportunities ahead of us in 2022 and beyond.”Animoca Brands is among the leaders in “branded blockchain gaming.” Its products include NFTs based on popular gaming projects such as Disney, WWE, Doraemon, Formula 1, and Power Rangers.

Since May last year, Animoca Brands has completed two rounds of funding before the latest. In the first one, it received $88.8 million in May and $50 million in July at a valuation of $1 billion. Another round of $65 million came in October from Sequoia Capital and Ubisoft at a valuation of $2.2 billion.Besides developing blockchain-based gaming software, Animoca Brands invests in NFT and Metaverse projects as a venture capitalist.

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