Hong Kong-based Animoca Brands announced a US$358,888,888 capital raise Tuesday that values the blockchain gaming and open metaverse company at US$5 billion.
- The round was led by New York-based Liberty City Ventures, with more than 18 other investors around the world, including Kingsway Capital, Sequoia China, Smile Group, Soros Fund Management and Winklevoss Capital.
- Animoca said the new funds will be used for funding strategic acquisitions and investments, product development and licenses.
- “We have set ourselves the ambitious goals of building an open Web3 and facilitating an open metaverse that expands financial inclusion…. We believe we are still at the initial stages of a new Internet revolution, and there are tremendous opportunities ahead of us in 2022 and beyond,” said Animoca co-founder and executive chairman, Yat Siu, in a press release.
- Murtaza Akbar, managing partner at Liberty City Ventures, added: “Animoca Brands is championing a more decentralized, open, fairer, and more inclusive future where everyone can truly own their digital goods and benefit from them accordingly.”
- Animoca and its subsidiaries are seeking to build the open metaverse by enabling online users to hold digital property rights through the use of blockchain and NFTs. Animoca raised US$216 million in three rounds during 2021 while its subsidiary, NFT platform The Sandbox, completed a capital raise of US$93 million.