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Animoca Brands, the company bringing digital property rights to gamers via nonfungible tokens (NFTs), raised another $50 million today, bringing its latest funding round to $138.88 million.
The pre-money valuation of the Hong Kong company is $1 billion. Investors in this second tranche included Blue Pool Capital, Coinbase Ventures, Gobi Partners, Korea Investment Partners, Liberty City Ventures, Samsung Venture Investment Corp., Scopely, Token Bay Capital, zVentures (the corporate venture arm of Razer Inc.), and other prominent investors.
In the first tranche of the raise, Animoca Brands raised $88.88 million based on a valuation of $1 billion back in May.
Animoca Brands is focused on bringing digital property rights to video gamers and the metaverse through the use of NFTs, which can authenticate digital collectibles, and blockchain, the secure and transparent digital ledger which is the underlying technology behind cryptocurrencies.
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Animoca’s games like F1 Delta Time offer REVV tokens as rewards for players who engage with the games. And Animoca’s Sandbox offers SAND tokens that people can use to buy land or buy and sell items in the Sandbox world. Players in the Sandbox can create NFT items and sell them in a marketplace.
The new capital will be used to fund strategic investments and acquisitions, product development, and licenses for popular intellectual properties.
Animoca Brands has also made investments in the blockchain gaming industry, with investments in Dapper Labs, Opensea, Bitski, and Axie Infinity, among several others.
With the recent launch of the GAMEE, TOWER, and LMT tokens, Animoca Brands is one of the world’s leading technology groups spearheading the use of blockchain-based in-game rewards and creating innovative ways to monetize video games.
Yat Siu, chairman of Animoca Brands, said in a statement the company is honored to welcome strategic investors who offer powerful synergy and partnership opportunities. The strong demand the company saw for the raise is a clear endorsement for Animoca Brands’ mission to deliver digital property rights to gamers and build the metaverse, he said.
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