Animoca Brands Raises Yet Another $100M to Build an Open Metaverse

Animoca Brands Raises Yet Another $100M to Build an Open Metaverse

The leading NFT game publisher and investment firm, Anomica Brands, has secured another investment from some fresh institutional investors.

Animoca Brands is eyeing to build an open, interoperable metaverse for all. To turn this idea into reality, the leading NFT game publisher is securing investment after investment. They’ve bagged another $110 million this time by issuing convertible notes.

The investment round was led by Boyu Capital, GGV Capital, and Hong Kong-based Temasek. True Global Ventures and Mirae Asset Management (both existing investors) were also present at the investment round. 

At the conversion price of AUD $4.5, the fundraising was conducted as a sale of convertible notes. An IPO (initial public offering), equity financing round, or even liquidation (in case of a sale or merge) is also possible.

According to Animoca Brands, the sale values the investment firm “similarly to its previous funding round.” They were talking about the $5.9 billion valuation in July.

Including a $359 million raise in January, Animoca Brands has now raised a total of $775 million in investment. Now, the firm is valued at more than $5 billion.

Yat Siu, Executive Chairman and Co-founder of Animoca Brands, has stated the following:

“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry.”

According to Bloomberg, the company has invested in more than 300 startups to help kick start their Web3 ideas. Their more prominent investments include OpenSea, Dapper Labs, Axie Infinity, and NBA Top Shot

Other than that, they are now completely focused on finding startups that are working on creating an interoperable, open metaverse. According to Yat Siu, centralized tech giants such as Tencent and Facebook are a “threat” as they are not in favor of building an open metaverse.