Animoca Brands, the Hong Kong-based game software company and venture capital company, has raised $75 million to advance its mind-blowing vision of an open metaverse. The latest capital raise is the second part of January’s $358 million capital raise.
Animoca Brands raises $75 million for open metaverse plans
The latest round of funding for Animoca Brands has investments from huge companies. This includes Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, and others. To do this, the company executed subscription agreements.
The $75 million will fund investments, strategic acquisitions and product development. They will also use it to secure licenses for popular intellectual properties and advance the open metaverse. Additionally, this includes the focus on digital property rights, which is a massive focus for Animoca Brands.
Yat Siu, co-founder and executive chairman of Animoca Brands, said,
“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse. We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and the field of true digital ownership.”
The company leading the blockchain revolution
Animoca Brands is a huge company making huge progress in digital entertainment, gamification, blockchain, the metaverse, and more. The company’s focus on digital property rights has seen tremendous growth. Significantly, it made it onto the prestigious Financial Times High Growth Companies Asia-Pacific list in 2021.
Animoca Brands invests in hundreds of the world’s biggest and most popular NFT/metaverse companies. Moreover, the company has a vast portfolio of products and subsidiaries that span the entirety of web3 and gaming platforms. These products include REVV token and SAND token; games such as The Sandbox, Crazy Kings, and more.