By Shiela Bertillo
Animoca Brands, a global developer leveraging blockchain and non fungible token (NFT), announced yesterday, October 20, that it has successfully raised $65 million capital at a pre-money valuation of US$2.2 billion.
The seed funding round includes investors such as Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Octava Fund, Adit Ventures, Summer Capital, Sigitech Holdings, Black Anthem Ltd, Mirana Corp, and Justin Sun.
According to the firm, the new capital will be utilized to fund strategic investments and acquisitions, product development, and licenses for popular intellectual properties of its products.
Last July, Animoca Brands raised $138.88 million for its plan to deliver digital property rights via NFTs.
“In 2018 we laid out a strategy based on our assessment that in the future digital property rights would revolutionize industries by expanding financial inclusion, and that this significant change would start with NFT adoption in games. That future is already here. With the backing of our new strategic investors, Animoca Brands will continue to advance blockchain in gaming – and beyond – to introduce billions of gamers and Internet users to true digital ownership.” Animoca Brands CEO Yat Sui said in a statement.
Animoca Brands and its dependents offer an extensive index of centralized and decentralized game products covering a variety of platforms including mobile devices, game consoles, PC, web, and blockchain. Its long list of subsidiaries includes The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, and Lympo.
REVV Racing, F1® Delta Time, MotoGP™ Ignition, and Formula E: High Voltage in the REVV token ecosystem are included in their blockchain game projects portfolio. Moreover, The Sandbox and its associated utility token SAND, and the GAMEE, TOWER, and LMT tokens are also under the firm.
Recently, Animoca Brands, in partnership with Brinc, launched Launchpad Luna, an accelerator for global startups in the blockchain and NFT space.
“I believe that the gaming, art, and music industries are entering a digital renaissance period uniquely enabled by blockchain. Yat and his team have demonstrated vision and foresight from the beginning and we are therefore excited to partner with Animoca Brands to build some of the largest on-ramps of the virtual world.” Mia Deng, partner at Dragonfly Capital, stated.
Joseph Chee, founder and chairman of Summer Capital, stated that he believes their investment along with other brands to Animoca Brands will “mark the acceleration of a new era.”
“Animoca Brands has been a pioneer in this burgeoning space and we believe this team has the right skill set and tools to usher in this new digital world,”a spokesperson for MSA Capital commented
Lucy Gazmararian, founder and general partner of Token Bay Capital, noted that Animoca Brands is “at the forefront of the blockchain gaming revolution, pioneering the next generation gaming experience where gaming, digital property rights and digital economies intersect to create new ecosystems which empower individual users like never before.”
Currently, Animoca Brands is still growing its portfolio of more than 100 investments in some of the world’s most meaningful NFT-related companies, including OpenSea, Dapper Labs, Bitski, Star Atlas, and Axie Infinity.
This article is published on BitPinas: Animoca Brands Raises $65M at $2.2B Valuation from Ubisoft, Sequoia China, Dragonfly Capital