Blockchain firm Animoca Manufacturers raises $358 million to enhance Web3 and the Metaverse

Advertisements

Animoca Brands has announced that the blockchain and cryptocurrency-focused company has raised $358.8 million to bolster the non-fungible token (NFT) industry and “build the open metaverse.” The capital increase follows previous fundraising of $65 million and $138.88 million last year and today Animoca Brands has an overall valuation of $5 billion.

Animoca Brands Raises $358M in Funding Led by Liberty City Ventures, Blockchain Company has a Pre-Money Valuation of $5B

Animoca Brands is a global developer using popular brands, gamification, AI, blockchain, non-fungible tokens (NFTs) and mobile technology. On Tuesday, the company announced that it had raised $358.8 million in a funding round led by Liberty City Ventures.

In a statement sent to Bitcoin.com News, Animoca Brands further elaborated that other investors include Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi were partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group and Parafi Capital.

In addition to using the funding to drive NFT and Metaverse adoption, Animoca Brands said that “the new capital will be used to further fund strategic acquisitions and investments, product development and licensing of popular intellectual property.” Animoca Brands has a strong focus on building the metaverse through the use of blockchain solutions and NFT technology. The company’s $358.8 million funding announcement adds:

Animoca Brands is working to build the open metaverse by making digital property rights available to online users through the use of blockchain and NFTs; These technologies enable true digital ownership of users’ virtual assets and data, making various possible [decentralized finance] and Gamefi opportunities (including play-to-earn), asset interoperability, and an open framework that can lead to more equal opportunities for all participants.

The company’s blockchain projects include The Sandbox Metaverse and its SAND token, a blockchain third-person shooter called Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and more. Liberty City Ventures Managing Partner, Murtaza Akbar, stated during the funding announcement that Animoca Brands is “demonstrating to the world the breakthrough properties of Web3 and the open metaverse.”

tags in this story

10T Holdings, Animoca Brands, Animoca Brands Fundraising, Arc8 Platform, Blockchain Games, Fundraising, Digital Property, Finance, Funding, Funding, Liberty City Ventures, Metaverse, Murtaza Akbar, nft, NFT Adoption, NFT Collectibles, NFT -Games, NFTs, non-fungible tokens, Phantom Galaxies, REVV Racing, Smile Group, Soros Fund Management, Stable Asset Management, The Sandbox, Wildcat Capital Management, Winklevoss Capital, Yat Siu

What do you think of Animoca Brands raising $358.8 million in funding from strategic investors? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In case you missed it

USDF

NYCB and Group of Banks join forces to launch USDF stablecoin

A group of US-based banks are launching their own stablecoin, USDF. The stablecoin is issued by the USDF Consortium, which allows its members (financial and banking institutions) to issue USDF. The proposed stablecoin will be the first currency…read more.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices Bitcoin

Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices

The below is a direct excerpt of Marty's Bent Issue #1181: "BIP21 is a...

By wpadminsonic164
There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages Bitcoin

There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages

In recent times, cryptocurrencies that burn tokens have been very popular and a number...

By wpadminsonic164
Bitcoin mining firm Luxor launches ASIC buying and selling desk Bitcoin

Bitcoin mining firm Luxor launches ASIC buying and selling desk

On January 11, 2022, Washington-based bitcoin mining company Luxor announced the launch of a...

By wpadminsonic164
Binance Invests $200 Million Into the Enterprise Journal and Digital Writer Forbes Bitcoin

Binance Invests $200 Million Into the Enterprise Journal and Digital Writer Forbes

Reports indicate that the world's largest cryptocurrency exchange by trade volume, Binance, has announced...

By wpadminsonic164
Mirror Buying and selling Worldwide Bitcoin Ponzi Scheme CEO arrested in Brazil Bitcoin

Mirror Buying and selling Worldwide Bitcoin Ponzi Scheme CEO arrested in Brazil

Johann Steynberg, the wanted CEO of Mirror Trading International, was recently arrested by Brazilian...

By wpadminsonic164
Tesla Hodls Bitcoin: Steadiness Sheet Reveals $1.26B in Digital Belongings Bitcoin

Tesla Hodls Bitcoin: Steadiness Sheet Reveals $1.26B in Digital Belongings

Elon Musk's electric car company, Tesla, is hodling bitcoin. The company's balance sheet shows...

By wpadminsonic164
Fuel DAO venture types for Airdrop tokens to Ethereum customers who’ve spent $ 1,559 in charges Bitcoin

Fuel DAO venture types for Airdrop tokens to Ethereum customers who’ve spent $ 1,559 in charges

A new type of airdrop was very popular in the final quarter of 2021...

By wpadminsonic164
How I outline Bitcoin generational wealth Bitcoin

How I outline Bitcoin generational wealth

Bitcoin Generational Wealth – The PreludeThis article was inspired by another bitcoiner, @chadlupkes, and...

By wpadminsonic164

Latest Posts

Why are whales shopping for the Cardano dip?  – Cardano Feed Cardano

Why are whales shopping for the Cardano dip? – Cardano Feed

Cardano's ecosystem is starting to look lively once again and whales have taken a...

By wpadminsonic164
Ripple(XRP), Cardano(ADA) & Binance Coin(BNB) Goal at 10% Bounce in 24 Hours !  – Cardano Feed Cardano

Ripple(XRP), Cardano(ADA) & Binance Coin(BNB) Goal at 10% Bounce in 24 Hours ! – Cardano Feed

Cardano(ADA) Price AnalysisCardano price broke through the descending channel a couple of days ago...

By wpadminsonic164
Second STATE Token Launch and Declare Occasion Announcement – Medium Polkadot

Second STATE Token Launch and Declare Occasion Announcement – Medium

ParaState is pleased to announce the release of our 2nd tranche of STATE tokens...

By wpadminsonic164
BTC Information – Heineken prevê aumento de preço Videos

BTC Information – Heineken prevê aumento de preço

Painel diário de notícias de negócios e empresas, comentadas e analisadas pela Business Training...

By wpadminsonic164
Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices Bitcoin

Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices

The below is a direct excerpt of Marty's Bent Issue #1181: "BIP21 is a...

By wpadminsonic164
Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed Cardano

Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed

by Robin Smith May 24, 2022 DeFi videos In the part 1 of 2...

By wpadminsonic164
Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” |  Bitcoinist.com – bitcoinist.com Cardano

Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” | Bitcoinist.com – bitcoinist.com

Launch of the interview series from ADALend CEO Kaspars Koskins, one of the most...

By wpadminsonic164
Bitcoin plunges, and might there be another challenger on the way? Videos

Bitcoin plunges, and might there be another challenger on the way?

Brian Kelly on bitcoin's fall and Powell's comments on digital dollars. With CNBC's Melissa...

By wpadminsonic164