Animoca Brands, a blockchain gaming publisher, announced that it has raised $110 Million in a round of funding led by Temasek and Boyu Capital. The convertible notes were issued to a few institutional investors by the company, which raised the funds.
Strategic Investors Help Animoca Brands to Raize $110 Million
Animoca Brands raised $110 million more this month, after it secured $100 million from Temasek. According to the latest capital raise announced on September 8, Temasek and Boyu Capital and GGV Capital led this round. Mirae Asset Management, True Global Ventures and True Global Ventures also participated.
NFT and crypto gaming company Animoca Brands (AB), based in Hong Kong, has seen a lot of growth during the crypto winter. The Japanese subsidiary of the company, Animoca Brands KK (Animoca Brands Japan), was funded by MUFG, Japan's largest bank, and Animoca Brands KK, its parent company.
Animoca Brands announced that Temasek and Boyu Capital were providing advice to the company. The companies will also provide input on "Animoca Brands" business and capital plans.
The announcement sent to Bitcoin.com News also reveals that the company aims to support the open metaverse. Yat Siu is the co-founder of Animoca Brands and the executive chairman. He stated that the company had experienced significant growth over the past 12 months.
Siu stated in a statement that "Animoca Brands has experienced significant growth as a company over the past year. Our new investors will provide strategic advice and perspective as the company builds the world's largest company supporting digital property rights in Web3 industry."
Web3, NFT markets, and Interest slide, Report Says Company Mulls an IPO
Web3 and non-fungible tokens have experienced a significant drop in market value since last year's highs. NFT sales data from cryptoslam.io shows that monthly NFT sales have reached $543.77million, but are 20.05% less than the $680.12 million in the previous month.
Google Trends (GT) shows that the search term Web3 received the highest score of 100 in the week of December 19-25 2021. The September 4-10, 2022 data shows that "Web3", the query, has a global GT score of 67. NFT is even less popular than the query "Web3", which has a score of 67 worldwide. This week's data shows that it scored approximately 14.
Animoca Brands has been able to withstand the downturn, securing $75 million in mid July. This is due to the company having built up a large war chest of funds over the past two years. Forbes reports that Animoca Brands may be considering an initial public offering (IPO). Crunchbase data shows that the Web3 company and blockchain gaming publisher has raised $775.3 millions since its inception in 2014.
What do you think of Animoca Brands raising $110 Million from investors? Comment below to let us know your thoughts on this topic.
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By: Jamie Redman
Title: Blockchain Gaming Publisher and Web3 Firm Animoca Brands Secures $110 Million
Sourced From: news.bitcoin.com/blockchain-gaming-publisher-and-web3-firm-animoca-brands-secures-110-million/
Published Date: Sat, 10 Sep 2022 21:30:20 +0000
