The blockchain gaming company Animoca Brands of Hong Kong announces raising $75.32 million as it eyes open metaverse expansion. With this funding, the venture capital company now secures a soaring $5.9 billion pre-money valuation.
“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,” says Yat Siu, co-founder & executive chairman of Animoca Brands.
Animoca aims to use this funding for “strategic acquisitions, investments, product development, and licensing intellectual properties.”
Executing Subscription Agreements with investors, Animoca Brands set the subscription price at A$4.50 per share for 23,237,058 in new shares.
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Animoca’s new funding round is an extension of its January funding round of $358.88 million, giving it a $5.4 billion valuation. Animoca’s fresh investors are Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T Holdings, SG Spring LP Fund, Generation Highway Ltd., and Cosmic Summit Investments Limited.
“There is no question that the fundraising environment has become more challenging, but at the same time the current crypto climate has also enabled some users to gain a better entry point to the open metaverse,” Yat Siu states.
