NFT’s project creator Animoca Brands raises $ 75 million to build Metaverse

The successful game publisher Animoca Brands, which also invests in a significant number of different and varied projects, has just closed a fundraising round of $ 75 million. The company thus wants to focus on the right to digital property, a crucial point for the future of metavers according to it.

Animoca Brands gets $ 75 million to expand

The bear market can sometimes reveal strange contrasts. Where some companies need to dismiss staffare forced to stop payouts on their platform or are drawn into the collapse of colossal investment funds, some continue to prepare for their future.

Animoca brandsthe successful company specializing in non-fungible tokens (NFTs) and metaverse, has just completed a fundraising of more than $ 75 million. The latter follows directly after the previous one completed in January this year, through which the company exceeded $ 5 billion in valuation.

The round table, led by the investment fund Liberty City Ventureswas amassed by a host of investors such as Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund and Generation Highway Ltd.

The founder and CEO of the investment fund Kingsway Capital, Manuel Stotzwas excited about its investment in Animoca Brands:

“The long-term growth path for NFTs and similar proprietary technologies is extraordinarily steep, especially in emerging markets. We are pleased to expand our partnership with Animoca Brands, which got its stripes out of the previous crypto winter 2018-2019 with a much bigger and stronger company. ”

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Development on several fronts

According to the press release from Animoca Brands, this new capital injection will enable the company to continue finance strategic acquisitionsto invest massively as well as to obtain licenses for intellectual property.

The company will also continue to contribute to the development of the metaverse, especially by promotion of digital property rights for usersturn to the future of these virtual worlds, according to Yat Siuthe CEO of Animoca Brands:

“Digital property rights represent a defining generational change for society that affects everyone online and will pave the way for the emergence of open metavers.”

Animoca Brands has already invested heavily in Web 3.0, especially through Sky Mavis (the developer of Axie Infinity), and in projects as diverse and varied as Polygon (MATIC), Ledger, The Sandbox (SAND), the Yield Guild, the Kraken Stock Exchange or the OpenSea platform.

In its latest report, published in April, Animoca Brands stated that its the investment portfolio was worth DKK 1.5 billion and that his reserves of digital assets were worth about $ 4.2 billion.

NFTs and metavers however, carry the bulk of the bear market. In fact, June was the worst month of the year in terms of volume for non-fungible tokens.

Også Also read: GameStop launches a public beta of its NFT platform

Source: Animoca Brands Blog

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