NFT Game Developer Animoca Brands Raises $89M, It Pushes Company’s Valuation to $1B
May 14 2021 · 08:21 UTC | Updated
May 14 2021 · 11:31 by Ibukun Ogundare · 3 min read
Photo: Animoca Brands
You have successfully joined our subscriber list.
Speaking on plans for the raised funds, Animoca said that they would go into product development.
NFT game developer Animoca Brands Corporation recently secured nearly $89 million in a capital raise, pushing the company’s valuation to $1 billion. Specifically, the game developer generated $88,888,888 in the recently completed capital raise. Animoca Brands announced the success of the capital raise on the 14th of May.
Animoca Brands Names Participants of This Funding Round that Raises Its Valuation
Animoca Brands raises US$88,888,888 based on valuation of US$1 billion
HONG KONG, May 13, 2021 /PRNewswire/
Animoca Brands, the company that is delivering digital property rights to gamers via NFTs, today announced that it has completed a capital raise of US$88,888,888 (approximately A$113,500,000) at a price per share of A$1.10 based on a valuation of US$1 billion (approximately A$1.28 billion).
Investors in the round included Kingsway Capital, RIT Capital Partners (formerly Rothschild Investment Trust), HashKey Fintech Investment Fund, AppWorks Fund, LCV Fund, Huobi, Octava, Ellerston Capital, Perennial, Axia Infinity Ventures, SNZ, Liberty City Ventures, Metapurse, and other prominent investors.
The funding is a strategic milestone that positions Animoca Brands for further aggressive growth as it continues to bring digital property rights to video gamers through the use of blockchain and non-fungible tokens (NFTs), enabling powerful benefits such as play-to-earn capabilitie
Animoca Brands Completes US$88,888,888 Capital Raise
Animoca Brands, a Hong Kong-based company delivering digital property rights to gamers via NFTs, completed a capital raise of US$88,888,888 (approximately A$113,500,000) at a price per share of A$1.10 based on a valuation of US$1 billion (approximately A$1.28 billion).
Backers included Kingsway Capital, RIT Capital Partners (formerly Rothschild Investment Trust), HashKey Fintech Investment Fund, AppWorks Fund, LCV Fund, Huobi, Octava, Ellerston Capital, Perennial, Axia Infinity Ventures, SNZ, Liberty City Ventures, Metapurse, and other prominent investors.
The company intends to use the funds to make further acquisitions, develop new products, continue to make strategic investments, and secure additional licenses for intellectual properties.