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Animoca Brand raises $75 million in funding

Hong Kong-based blockchain gaming publisher Animoca Brands announced on July 12th that it had raised $75.32 million from venture capital and others.

Animoca has worked on blockchain games and NFTs that use cryptocurrencies, and this time the funds were raised from Kingsway Capital, Liberty City Ventures, etc. The current company’s valuation is about 5.9 billion dollars.

Animoca explained that the funding would be used for “strategic acquisitions, investment, product development, securing popular intellectual property licenses, promoting open metaverse” and digital property rights.

Animoca co-founder Yat Siu commented on digital property rights and the Web3 industry:

” Digital property rights represent a socially defining generational shift that affects everyone online and sets the stage for the emergence of the open metaverse. Animoca Brands in the Web3 industry and realm of true digital ownership.”

In January, Animoca raised $358 million, and the funds from the previous round of funding are being used to increase recruitment for NFTs and Metaverse, Animoca said.

Animoca has also invested in NFT, blockchain technology, cryptocurrency startups, and Web3 projects such as NBA Top Shot, Opensea, and SkyMavis.