Animoca Brands has closed a strategic funding round for US$110 million (approximately SG$139 million). The strategic consortium of new investors, formed by Temasek, Boyu Capital and GGV Capital, will provide advice to the Company as it continues to grow and build its organisational capabilities.
This will include engaging and advising the Company on a range of business issues as well as providing input on its business and capital plans. Animoca Brands will use the new capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users. The company has established itself as one of the world’s leading technology groups in blockchain and gaming by spearheading and innovating decentralised in-game rewards and monetisation in video games for the emerging open metaverse.
Yat Siu, co-founder and executive chairman of Animoca Brands, said, “We are incredibly pleased to complete a special strategic round of fundraising comprising several of the most respected institutional investors in the world, and we are honored by the continued support from existing investors. 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.”
Using technologies including blockchain and NFTs, Animoca Brands is working to deliver true digital ownership of users’ virtual assets and data, enabling various DeFi and GameFi opportunities (including play-and-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants in the open metaverse.
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