$75 Million Raised By Animoca Brands For Promotion Of Digital Property Right

by | Aug 5, 2022 | Market, Market News, News | 0 comments

The world is continuously going ahead to web3 and metaverse expertise. The Internet era has already been dominating mass society. The enhanced technology is now trying to get a more advanced ecosystem. Blockchain technology is anticipated as the future of internet technology. Where the other related field which is virtual is rapidly moving towards updated fields.

Who Are Animoca Brands?

Animoca Brands is a prominent company for improving virtual products such as games, open metaverse, blockchain, and NFTs. The company is a Deloitte Tech Fast Winner. Also, it ranked in the list of High Growth Companies Asia-Pacific 2021 in the Financial Times. Animoca is mainly connected with entertainment, blockchains, games, open metaverse, etc. It created REVV tokens and SAND tokens. Some of the original games of the company are Sandbox, Crazy Kings, Crazy Defense Heroes, and many more. The company includes products utilizing popular intellectual properties like Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, etc. It has more than 340 investor companies globally.

Behind The Fund Raising :

Hong Kong-based Animoca Brands is one of the prominent companies to enhance and upgrade these technical and virtual products. It was collecting funds to promote digital property rights and the company achieved $75 million in raising funds this year.

Animoca Brands is advancing the property rights of digital assets. They are focusing on gamification along with the metaverse. In January this year, the company announced its second tranche of investment. That got $75.32 in raising funds from the investors. The company’s investors are Alpha Wave Ventures, Kingsway Capital, Liberty City Ventures, SG Spring Limited Partnership Fund, 10T, Generation Highway, and others.

The Animoca brand aimed to use the monetary fund for strategic acquisitions, investments, and product development, secure licenses for renowned intellectual properties, advance the open metaverse, and promote digital property rights for online users. This company is venturing to grow the virtual fields keeping in mind the future effects.

Animoca is using blockchain and NFTs to get the goal. Through these two main elements, the company is ensuring true ownership of users’ virtual assets and data. It is also working on enabling various Defi along with GameFi that includes play and earn techniques. It is creating an open framework to equalize all users’ comfort in the open metaverse. If the authentic property rights will be added to the platforms, more traffic will be there and the open metaverse will get successful. Users are always seeking some guarantee or authenticity. If it is provided to them then nothing will be much better than that.

Funding Strategy :

Animoca Brands gained its value at $5.9 billion this year. During the second fundraising phase, the company planned a subscription-based investment. Where a subscription price was A$4.50 per share. There were a total of 23,237,058 new shares. Now, the company will have 183 crores 61 lakh 42 thousand, and 3 hundred 34 fully paid ordinary shares on issue.

Yat Siu, the co-founder and executive chairman of Animoca shared his view regarding the open metaverse and gamification. According to him, the open metaverse and gamification are gradually taking place in the virtual world. The enhanced virtual world will be the identification of a society.

Other Investments :

This web3 gaming company is also investing in other web3 projects. It has invested in companies like Opensea, Axie Infinity, Dapper Labs, Star Allas, Yield Guild Games, Harmony, Colossus, Alien World, and many more. This company has helped the Soulbound metaverse company to raise its fund. Soulbound got up to $3.6 million raising funds in June this year.