raises $110 million in a strategic funding round

Animoca Brands, a crypto gaming venture, announced it raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital on Sep 8. The funds will be used for strategic developments.

Animoca Brands, widely known as the backing venture of The Sandbox game, is one of the leading companies in the Web3 world. It has initiated many gaming projects via partnerships and collaborations.

The Hong Kong-based firm held a strategic funding round participated by well-known existing and new investors. The co-founder of Animoca Brands, Yat Siu, thanked the investors for participating.

“...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,” said Yat in a press release.

Lined Circle
Lined Circle

According to a report, Animoca Brands received $17.2M from True Global Ventures’ TGV 4 Plus Fund and TGV 4 Plus Follow On Fund in the funding round.

With new investment money, Animoca Brands will fund “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse.”

Following the news of the fundraiser, Boyu Capital shared, “Over many years, we have witnessed Yat’s consistent advocacy and relentless push for innovation in this space.”

Yat Siu’s vision and Animoca Brands’ continuous growth have impressed many investors. The firm has already invested around $1.5B in 340 companies working towards the development of Web3 gaming.

Animoca Brands is one step ahead of bringing digital property rights to its uses through different initiatives using these funds.

Lined Circle
Lined Circle

Other stories

Queen Elizabeth II NFTs trends on OpenSea following her death

Japan’s Gov rewards NFTs to local mayors for digital initiatives