Animoca Brands Raises $75 million to invest in Open Metaverse Vision

Animoca Brands has announced that it will invest $75 million in the Open Metaverse Foundation. This is a blockchain-powered MMO which promises to be one of the most ambitious and advanced titles ever released, incorporating virtual reality technology into its gameplay experience.

Yuga Labs is a company that has been working on the open metaverse for quite some time. They have recently partnered with Animoca Brands to raise $75 million to invest in their vision. Read more in detail here: yuga labs x animoca brands.

The Sandbox creator Animoca Brands has secured $75 million in its most recent round of investment. This is true despite the cryptocurrency markets’ ongoing freefall.

With the additional capital, the company’s pre-money valuation—which is its worth before any external financing or most recent round of fundraising—now stands at $5.9 Billion. Liberty City Ventures, Kingsway Capital, SG Spring Limited Partnership, Generation Highway Ltd., Cosmic Summit Investments Limited, and Alpha Wave Ventures are a few of the investors in the most recent round.

A venture capital firm with its headquarters in Hong Kong, Animoca Brands has made over 340 investments in the Web3 development industry, including early investments in OpenSea and Dapper Labs.

Through decentralization and in-game awards, they are firmly established as one of the most well-known organizations investing in blockchain and gaming technologies.

What property does Animoca own?

A well-known developer of blockchain games, Animoca Brands has been adding new businesses all through 2022. Web3 favorites including The Sandbox, GAMEE, Grease Monkey Games, Lympo, and Eden Games were among the subsidiaries that the business purchased.

What use will they put the additional money to?

In accordance with a news release from Animoca Brands, they plan to utilize the most recent round of money to;

‘Fund strategic acquisitions, investments, and product development; acquire licenses for well-known intellectual property; and advance the open metaverse, especially by working to extend online users’ rights to digital property.’

The startup will use the money to create an open Metaverse where everyone may thrive in an equitable and open environment. They are funding blockchain and NFT technology to do this.

The PR continues, saying.

Animoca Brands is trying to provide different DeFi and GameFi options (including play-and-earn) and asset interoperability in order to give genuine digital ownership of consumers’ virtual assets and data.

What has the business said about the most recent round of funding?

The business is obviously pleased with its most recent investment. Yat Siu, co-founder and executive chairman of Animoca Brands, said with an emphasis on the developing Metaverse,

Everybody online is affected by the generational transition that defines digital property rights, which will pave the way for the birth of the open metaverse.

Aminoca will continue to be at the forefront of shaping it thanks to this investment.

What investors have to say

Liberty City Ventures investors predict that ownership and control of digital assets will alter in the next ten years as a result of blockchain technology. The managing partner announced Emil Woods.

We are honored to sponsor Animoca Brands, a highly skilled group of creators and visionaries who are leading the charge to embrace and realize the potential of Web3.

Kingsway Capital is aware of how decentralization and blockchain technology are transforming the internet via the advent of digital property rights and blockchain-based digital ownership. They are aware that Web2 “servitude” cannot be resumed.

Manuel Stotz, the founder and CEO of Kingsway Capital, claims:

“Especially in developing nations, the long-term development trajectory of NFTs and related ownership technologies is exceptionally high. We are thrilled to expand our ongoing collaboration with Animoca Brands.

Afterthoughts

$75 million is raised by Animoca Brands. The news shouldn’t come as a surprise since Animoca Brands continually demonstrates that they are on top of cutting-edge technology that will host the open Metaverse. Future advancements will be continued with the support of the most recent financing.

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Animoca Brands, a company that specializes in blockchain-based games and virtual goods, has raised $75 million from private investors to invest in Open Metaverse Vision. Reference: animoca brands partnerships.

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