Started by Bitcoin, Sep 11, 2022, 08:13 am
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Blockchain gaming publisher Animoca Brands announced the company has raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. The company raised the funds by issuing convertible notes to a handful of institutional investors.
Animoca Brands has raised another $110 million this month after the company secured $100 million from Temasek and others, at the end of August. The latest capital raise, announced on September 8, explains that Temasek, Boyu Capital, and GGV Capital led the round, and Mirae Asset Management and True Global Ventures participated as well.
The Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands (AB) has managed to grow via a number of investment rounds amid the crypto winter. The company’s Japanese subsidiary, known as Animoca Brands KK (Animoca Brands Japan), raised $45 million from Japan’s largest bank MUFG, and Animoca Brands KK’s parent company AB.
In the latest announcement revealed on Thursday, Animoca Brands said Temasek, Boyu Capital, and GGV Capital will provide the firm with advice and the companies will give “input on [Animoca Brands’] business and capital plans.” The Web3 and blockchain gaming publisher plans to use the fresh capital for “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties.”
Furthermore, the announcement sent to Bitcoin.com News details that the firm aims to bolster the open metaverse. Yat Siu, the co-founder and executive chairman of Animoca Brands, detailed that the company has seen notable growth during the last 12 months.
“Animoca Brands has grown significantly as a company in the last year, and 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,” Siu said in a statement.
Non-fungible tokens (NFTs) and Web3 have seen a considerable dip in market value and overall interest in 2022 since the highs last year. During the past 30 days, NFT sales data from cryptoslam.io indicates monthly NFT sales hit $543.77 million but are down 20.05% lower than the month prior’s $680.12 million.
On Google Trends (GT), the search term “Web3” tapped the highest score of 100 during the week of December 19-25, 2021. Data for September 4-10, 2022, indicates that the “Web3” query has a worldwide GT score of 67 today. The search term “NFT” is even lower as the week of September 4-10 shows a score of approximately 14.
Animoca Brands has managed to stave off the downturn and secured $75 million in mid-July as the company has obtained a war chest of funds during the last two years. According to a report from Forbes, Animoca Brands is contemplating a possible initial public offering (IPO). Crunchbase data indicates the blockchain gaming publisher and Web3 company has raised $775.3 million since it was founded in 2014.
What do you think about Animoca Brands raising $110 million from investors? Let us know what you think about this subject in the comments section below.
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