nft game image banner for Animoca Brands Raises $75M Fund

Animoca Brands Raises $75M Fund

Posted July 18, 2022 4:38 pm
2 min
By Jethro Sandico

Hong Kong-based game software and venture capital company Animoca Brands announced on its website on July 12, 2022, the completion of a $75.32 million capital raise.

“Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, today announced that it has completed a capital raise of US$75.32 million (approximately A$104.57 million),” the company said in an official statement.

Joining the list of investors are New York City’s seed stage fund Liberty City Ventures. In parallel are London-headquartered investment management firm Kingsway Capital, and Saint Helena-based Cosmic Summit Investments Limited, to name a few.

“Over the next decade, humanity will discover and embrace the game changing power that blockchain based digital ownership of assets will bring to countless aspects of daily life,” Liberty City Ventures managing partner Emil Wood stated, adding “We are proud to support Animoca Brands, a highly talented team of visionaries and builders at the forefront of this movement to embrace and fulfill the promise of Web3.”

Some Background

Kingsway Capital founder and CEO Manuel Stotz also expressed his thoughts on Web3 technology. He believes that “the genie of digital property rights has been let out of the bottle, and the Internet users engaging with this revolutionary technology will not be returning to the digital servitude that is common in Web 2.0.”

Animoca Brands, a prominent organization in the blockchain gaming industry. The company aims to utilize the capital to fund acquisitions, investments, and product development. It also offers a series of advocacies including the open metaverse and online digital property rights.

“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,” Animoca Brands co-founder and executive chairman Yat Siu stated.

Well-recognized in the blockchain space for creating virtual gaming platform The Sandbox, owns multiple subsidiaries. Among them are indie game dev company Blowfish Studios, digital marketplace Quidd, and blockchain gaming platform GAMEE.

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