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PlayToEarn News Animoca Brands Receives Unicorn Status by Raising US$88.8 Million

Hot PlayToEarn News Today Animoca Brands Receives Unicorn Status by Raising US$88.8 Million You Must Read To Get More Information For Making Money Online.

Animoca Brands, the leading blockchain game distribution and venture capital company, has entered into the unicorn category after raising US$88.8 million in a funding round led by investors like Kingsway Capital, HashKey Fintech, SNZ, Octava, RIT Capital Partners, and many others. The latest funding brings the company valuation to US$1 billion.

The funding took place through subscription agreements with various professional investors to issue 93.4 million new, ordinary and fully-paid shares of Animoca Brands. Each share was issued at a price of $1.10. The funding was raised based on the fact that the valuation of the company is $1 billion. To celebrate the achievement of unicorn status, the company will issue an NFT to all investors and key partners who helped make this event successful.

The investors included companies and venture capitalists like Kingsway Capital, HashKey Fintech Investment Fund, Axia Infinity Ventures, AppWorks Fund, LCV Fund, Octava, RIT Capital Partners (formerly Rothschild Investment Trust), Ellerston Capital, Huobi, Perennial, SNZ, Liberty City Ventures, Metapurse, and other investors. Simon Doherty of Taylor Collison and Everest Ventures Group, the corporate advisor of Animoca Brands, assisted with the capital raise.

How will the funding help Animoca Brands?

Animoca Brands aims to use the funds for more acquisitions and develop new products. They will keep making strategic investments to scale up the company and diversify their portfolio. The funds will also be used for securing additional licenses for intellectual properties. The funding is a strategic milestone that will empower the company for aggressive growth and build a powerful platform for enabling digital property rights for blockchain gamers.

“We are deeply honored to have secured Kingsway, RIT, Hashkey, Huobi, Ellerston, Perennial, and other strategic investors who share our vision for NFTs redefining equity and property rights online. This strategic capital raise firmly establishes Animoca Brands as one of the leading and most valuable companies in the NFT space, not just in Asia but globally.”

Yat Siu, co-founder and chairman of Animoca Brands

What is Animoca Brands?

Animoca Brands Receives Unicorn Status by Raising US$88.8 Million

Animoca Brands is a Hong Kong based blockchain and NFT game distribution company. The company was founded in 2016 by Yat Siu. The company publishes and distributes blockchain games and is one of the leading companies in the crypto gaming space. Animoca Games has published many products, including the REVV token and SAND tokens for Sandbox and games like Crazy Defense Heroes and Crazy Kings. Animoca has also invested in companies like Dapper Labs, Sky Mavis, CryptoKitties, Axie Infinity game, and OpenSea, the biggest NFT marketplace.

Animoca Brands recently raised US$358 million in a funding round led by the Winklevoss twins and Soros Fund Management in January 2022. Before that, they raised $US65 million in second-round funding from companies like Ubisoft, Sequoia Capital, and Dragonfly Capital. With the backing of more and more investors, Animoca games aim to introduce advanced blockchain in gaming and distribute it to billions of gamers worldwide with true digital ownership.

A gaming enthusiast since childhood. Got attracted to the new concept of crypto-gaming and blockchain and fell in the rabbit hole. Now getting ready to dive deep in the metaverse.

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