Animoca Brand Valuation Doubles

Ice Poseidon
Ice Poseidon

Animoca, a famous virtual property developer along with a Non-fungible token, has its valuation doubled to a sum of $2.2 billion. This took place after the brand closed a new funding round that saw them fetching close to $65 million.

The latest round of funding was conducted at a pre-money valuation of around $2.2 billion, and it included some major backing from giants like Ubisoft Entertainment along with other bigshots like Sequoia China, Liberty City Ventures, and Dragonfly Capital. This is definitely some form of a vindication for the company that was kicked off from the Australian Securities Exchange back in 2020 for its continued involvement with cryptocurrencies. 

Animoca Gaining Major Ground

According to an announcement that took place on Wednesday, Animoca Brands has around 43.8 million newly issued shares which would be distributed to investors at a price of AUD $2 for every share.

The firm has now been able to raise a total of around $203.88 million for the current year- with the firm becoming a major crypto unicorn in June when it raised a sum of $138.88 million as a major portion of two trances of a capital raise that had a valuation of around $1 billion. 

Animoca is quite a brand-focused metaverse, along with being a highly interactive company, stated that the major funding will be moving towards funding strategic investments and acquisitions along with product development and licenses for major intellectual properties. Yat Siu, the co-founder of this company, went on to outline the vision of the company around digital ownership and NFTs which would be moving forward. 

He further added that with several investors strategically backing Animoca, the brand will definitely continue to stake new positions in blockchain gaming.