Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse – Finance Bitcoin News

Animoca Brands has announced the blockchain and cryptocurrency-focused firm has raised $358.8 million to bolster the non-fungible token (NFT) industry and “build the open metaverse.” The capital raise follows the firm’s previous $65 million and $138.88 million raises last year and today, Animoca Brands has an overall valuation of $5 billion.

Animoca Brands Raised $358 Million In Financing. Liberty City Ventures and Blockchain Company Have a Pre-Monet Valuation Of $5 Billion

The company Animoca Brands, a global developer, uses popular brands, gamification and A.I. as well as blockchain, non-fungible tokens, mobile technology, and non-fungible tokens. The company revealed on Tuesday that it had secured $358.8 Million in financing from Liberty City Ventures.

Animoca Brands sent a statement to News confirming that they had other investors including Smile Group and Stable Asset Management. Soros Fund Management was also mentioned.

In addition to using the financing to increase NFT and metaverse adoption, Animoca Brands said that the “new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.” Animoca Brands has a strong focus on building the metaverse by leveraging blockchain solutions and NFT technology. The company’s $358.8 million financing announcement adds:

Animoca Brands is working to build the open metaverse by bringing digital property rights to online users through the use of blockchain and NFTs; these technologies enable the true digital ownership of users’ virtual assets and data, and make possible various [decentralized finance]Gamefi options (including play to earn), asset interoperability and an open framework can help all players achieve greater equity.

The company’s blockchain projects include The Sandbox metaverse and its SAND token, a blockchain third-person shooter called Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and more. The managing partner at Liberty City Ventures, Murtaza Akbar, detailed during the financing announcement that Animoca Brands “is demonstrating to the world the game-changing characteristics of Web3 and the open metaverse.”

In this story, tags
10T Holdings. Animoca Brands. Animoca Brands capitalraise. Arc8 platform. Capital raise. Digital property rights. Finance, Financing. Funding. Metaverse. Murtaza Akbar. nft. Animoca Brands. NFT adopt, NFT collectibles. Phantom Galaxies. REVV racing. Smile Group. Soros fund management. Stable Asset Management. Wildcat Capital Management. Winklevoss Capital. Yat Siu.

Do you have any thoughts about Animoca Brands securing funding of $358.8 millions from strategic investors Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active participant ever since. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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