Animoca Brands completes $75M raise at $5.9B valuation to invest in blockchain games
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Animoca Brands said it completed the second phase of a $75.3 million funding round from earlier this year that valued the company at $5.9 billion.
The blockchain game company will use the funds to invest in more games and advance the vision for the “open metaverse.”
The current raise is the second tranche of the funding previously announced in January. That round was extended to accommodate due diligence processes.
Investors in the current tranche included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others.
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Yat Siu, co-founder and executive chairman of Animoca Brands, said in a statement, “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 honored to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”
I asked if any strategy was behind the timing of the funding. Siu said in an email reply, “The devastating dotcom crash of 2000 didn’t kill the burgeoning Internet. The horrific 2008 financial crisis didn’t halt the explosive growth of the Internet, smartphones, or mobile
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