Animoca Brands Hits a $5.9B Valuation

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Blockchain-based gaming operator Animoca Brands has just raised $75.32 million and has reached a valuation of $5.9 billion.

The company raised in January about $359 million. The delay for the second tranche was due to the need for additional compliance reviews.

Participants in the funding round include Animoca Brands include Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited and Liberty City Ventures.

According to the company, the funds will be used to fund further strategic acquisitions, product development, digital property licenses and promotion of the open metaverse.

Yat Siu, executive chairman and co-founder of Animoca Brands, has commented:

“Digital property rights represent a society-defining generational shift that affects everyone on the internet and sets the stage for the emergence of an open metaverse.”