NFT REVIEW NEWS Animoca Brands Secures $75M in Funding Amid Bear Market

In the midst of a bear market, industry leading crypto venture capital firm and all-encompassing blockchain developer Animoca Brands has raised $75 million in a recent funding round. The round saw participation from an array of different investors, such as Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, Cosmic Summit Investments Limited, SG Spring Limited Partnership Fund, and Generation Highway. 

As per the words of the round’s subsequent press release, as well as those from the company’s co-founder and executive chairman Yat Siu, the new funds will be used to fund strategic acquisitions, investments, and product developments, as well as to secure licenses for popular IPs and advance the open metaverse through promoting digital property rights for online users.

When speaking on the importance of such areas, Siu had this to say: “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. We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership”.

Overall, the relatively small injection of funds raises the company’s valuation to $5.9 billion, which is approximately an impressive $900 million more than what it was at the start of the year.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Source link

If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.

What do you think?

26 NFT Points
Upvote Downvote


I am the curator of the NFT Review Market News. If the document or content infringes any copyright, please point it out in comments and it will be promptly removed. To all the articles we include the link of the Resource that appears as Source Link If this article, video or photo intrigues any copyright, please indicate it to the author's email or in the comment box.


Leave a Reply

Crypto Sport Gaming News Crypto Sport Gaming News ENJIN Announces Eggs of Entropia (Exclusive to Enjin’s –

NFT REVIEW NEWS South Korean Bank KEB Hana Enters the Sandbox