Cyberport unicorn Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, has completed a capital raise of US$75.32 million. The current raise is the second tranche of the funding previously announced in January this year, which was extended to accommodate due diligence processes.
Investors in the current tranche included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others.
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.
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.
The company has established itself as one of the world's leading technology groups in blockchain and gaming by spearheading and innovating decentralized in-game rewards and monetization in video games for the emerging open metaverse.
Yat Siu, co-founder and executive chairman of Animoca Brands, said, "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."
