Animoca Brands Achieves Unicorn Status Following $1B Valuation

NFT-focused game developer Animoca Brands recently announced the completion of an $88.8 million capital raise with a valuation of $1 billion. As a result, Animoca Brands is “the newest crypto unicorn in Asia,” according to NIKKEI Asia.

The capital raise was announced on May 13th. Kingsway Capital, HashKey Fintech Investment Fund, RIT Capital Partners, and Huobi all participated as investors. Up to 93.4 million new shares of Animoca Brands will be distributed to the investors at a subscription price of $0.85 per share.

Manuel Stotz is the CEO of Kingsway Capital. He commented on the NFT and cryptocurrency markets. “The emergence of digital property rights, whether via Bitcoin or NFTs, is perhaps the greatest opportunity for financial inclusion for the bottom three billion frontier and emerging market consumers, as well as an opportunity for a more decentralized and thus more equitable global internet,” he said.

Animoca Brands was founded in 2014. It was listed on the Australian Security Exchanges market from January 2015 to March of 2020.

(All information was provided by NIKKEI Asia, Google, Coin Telegraph, and Proactive Investors)

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