Animoca Brands banks US$75M+ more to fund strategic acquisitions, investments

Animoca Brands, a leading digital entertainment, blockchain and gamification company based in Hong Kong, has completed a capital raise of US$75.32 million.

This is the second tranche of the US$359 million funding round led by Liberty City Ventures announced on 18 January 2022.

Investors in the current tranche included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, and Cosmic Summit Investments Limited.

Animoca Brands will use the fresh infusion to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.

Animoca Brands is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products, including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilising popular IPs including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP, and Formula E.

Also Read: Web3 is going to redefine labour in Asia in a big way: Animoca Brands’s Yat Siu

Using technologies including blockchain and NFTs, Animoca Brands is working to deliver true digital ownership of users’ virtual assets and data, enabling various DeFi and GameFi opportunities (including play-and-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants in the open metaverse.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.

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.

Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, said: “Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse.”

Emil Woods, managing partner of Liberty City Ventures, commented: “Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life.”

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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