Animoca Brands completes funding round with an more $50M raised

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Animoca Brands, the organization bringing digital home rights to gamers by means of nonfungible tokens (NFTs), raised one more $50 million today, bringing its most up-to-date funding round to $138.88 million.

The pre-income valuation of the Hong Kong organization is $1 billion. Investors in this second tranche integrated Blue Pool Capital, Coinbase Ventures, Gobi Partners, Korea Investment Partners, Liberty City Ventures, Samsung Venture Investment Corp., Scopely, Token Bay Capital, zVentures (the corporate venture arm of Razer Inc.), and other prominent investors.

In the initial tranche of the raise, Animoca Brands raised $88.88 million based on a valuation of $1 billion back in May.

Animoca Brands is focused on bringing digital home rights to video gamers and the metaverse via the use of NFTs, which can authenticate digital collectibles, and blockchain, the safe and transparent digital ledger which is the underlying technologies behind cryptocurrencies.

Image Credit: Animoca Brands

Animoca’s games like F1 Delta Time present REVV tokens as rewards for players who engage with the games. And Animoca’s Sandbox gives SAND tokens that persons can use to purchase land or purchase and sell products in the Sandbox world. Players in the Sandbox can produce NFT products and sell them in a marketplace.

The new capital will be used to fund strategic investments and acquisitions, item development, and licenses for well-known intellectual properties.

Animoca Brands has also made investments in the blockchain gaming market, with investments in Dapper Labs, Opensea, Bitski, and Axie Infinity, amongst quite a few other folks.

With the current launch of the GAMEE, TOWER, and LMT tokens, Animoca Brands is one of the world’s major blockchain based technologies groups spearheading the use of blockchain-based in-game rewards and making revolutionary techniques to monetize video games.

Yat Siu, chairman of Animoca Brands, mentioned in a statement the organization is honored to welcome strategic investors who present potent synergy and partnership possibilities. The sturdy demand the organization saw for the raise is a clear endorsement for Animoca Brands’ mission to provide digital home rights to gamers and make the metaverse, he mentioned.

Originally appeared on: TheSpuzz