The Animoca team celebrating Xmas
Animoca Brands, a leading digital entertainment, blockchain and gamification company based in Hong Kong, today announced the completion of a US$359M funding round led by Liberty City Ventures at a pre-money valuation of US$5 billion.
The participating investors are 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, and Gobi Partners Greater Bay Area, among many others.
Animoca Brands will use the new capital for strategic acquisitions and investments, product development and licenses for popular intellectual properties.
Also Read: HK accelerator Brinc lands US$130M funding led by Animoca Brands to foray into Web3
Animoca Brands is building the open metaverse by bringing digital property rights to online users through blockchain and NFTs. These technologies enable the true digital ownership of users’ virtual assets and data, and make possible various DeFi and GameFi opportunities (including play-to-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants.
Animoca Brands and subsidiaries offer a broad portfolio of centralised and decentralised game products, branded and original, covering most primary platforms, including mobile devices, game consoles, PC, web, and blockchain. Products include games ranging from hyper-casual to hardcore and collectibles, utility tokens, and e-sports titles.
In addition to its product development and publishing businesses, Animoca Brands is an active investor in more than 150 NFT and metaverse-related companies, including OpenSea, Dapper Labs, Yield Guild Games, Star Atlas, Axie Infinity, and Thetan Arena.
Animoca Brands has various subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Lympo, and Bondly.
In partnership with Brinc, Animoca Brands operates Launchpad Luna, an accelerator to foster startups in the blockchain and NFT space.
Also Read: Animoca Brands invests in Fantico, a startup creating its own metaverse
In 2021, Animoca Brands raised US$216.28 million to power its vision of digital property rights and the open metaverse, while its subsidiary The Sandbox completed a capital raise of US$93 million.
The global video game market was estimated to generate US$180.3 billion in 2021 (source: NewZoo), while the metaverse market size is expected to grow to around US$829 billion by 2028 (source: Emergen Research).
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