- Animoca Brands has raised $110 million in a financing round led by Temasek, Boyu Capital, and GGV Capital
- The NFT gaming company said the newly acquired capital would be used to fund expansion, new products, and license acquisitions
- Animoca Brands’ total capital raised amount has surpassed $770 million
Animoca Brands raises $110M, eyeing potential IPO
NFT gaming company Animoca Brands has announced it raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. Animoca Brands, known primarily as the creator of the popular metaverse game The Sandbox, said the newly acquired funds would help the company in its ongoing expansion.
“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,” noted co-founder and executive chairman of Animoca Brands Yat Siu in a statement.
In addition to financing growth, the company is reportedly looking to fund new investments, product development, secure licenses, and promote digital property rights necessary to expand the metaverse.
According to Forbes’ report, the trio of strategic investors will help the company become “pre-IPO ready” – however, the company shared no timeline for the potential initial public offering. It is worth noting that Animoca Brands was previously listed on the Australian Securities Exchange in early 2015, but was delisted in 2020 due to breaching the exchange’s listing rules.
The gaming company’s total capital raised tally has now surpassed $770M
Accounting for the latest $100M+ funds raise, Animoca Brands has now collected over $770 million from venture capital investors since 2019, per Crunchbase data. The massive amount of investment suggests investors see great potential in the NFT and blockchain gaming sector, despite the recent market downturn.
Earlier this year, the NFT company raised $75 million at a $5.9 billion valuation from Liberty City Ventures and other VCs. It is worth noting that Animoca Brands’ market value reportedly stayed the same during the latest financing round as well.
The price of Animoca Brands-owned The Sandbox surged by nearly 7% in the last 24 hours. At press time, SAND is trading at $0.9717, close to its two-week high.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.