Blockchain Game Developer Animoca Brands Raises $65 Million – Ubisoft, Sequoia China Participate in Funding
Animoca Brands, a worldwide developer that uses popular brands, gamification, AI, blockchain, non-fungible tokens (NFTs), and mobile technology, said on Wednesday that it has completed a $65 million capital round. After obtaining funding from Liberty City Ventures, Ubisoft Entertainment, Sequoia China, and Dragonfly Capital, Animoca Brands currently has a total valuation of $2.2 billion.
Animoca Brands has raised $65 million in funding
Animoca Brands reported in July that it has funded $138.88 million to use non-fungible token (NFT) technology to deliver digital property rights. Yat Siu co-founded the firm Animoca Brands in January 2014, and the company has recently concentrated on blockchain gaming and NFTs. Sky Mavis, the developers of Axie Infinity, and Opensea, the biggest NFT marketplace in terms of transaction volume, have received funding from Animoca Brands.
“Through the use of blockchain and non-fungible tokens (NFTs), Animoca Brands is bringing digital property rights to online users, primarily for consumer video game players and the metaverse; these technologies enable true digital ownership of users’ virtual assets and data, and offer various play-to-earn capabilities, asset interoperability, and defi/gamefi opportunities,” according to the Animoca capital raise announcement on Wednesday.
‘Future Digital Property Rights Would Revolutionize Industries by Expanding Financial Inclusion,’ says Animoca Brands Co-Founder
Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, and Tess Ventures were among the investors in the current fundraising round. The business also performed a pre-money appraisal, which came in at $2.2 billion.
In a statement, Mia Deng, a partner at Dragonfly Capital, stated, “I believe that the game, art, and music sectors are experiencing a digital renaissance phase uniquely enabled by blockchain.” “We are delighted to collaborate with Animoca Brands to construct some of the major on-ramps of the virtual world since Yat and his team have shown vision and foresight from the beginning.”
Yat Siu, Animoca Brands’ co-founder and executive chairman, stated that the business believes in “future digital property rights” and that this creative trend would “revolutionize sectors by extending financial inclusion.” The use of NFT in games, according to Yat Siu, has demonstrated that the “future is already here.”