Metaverse News

Animoca Brands Secures A $5B Valuation

Animoca Brands revealed the company had secured a $5 billion valuation. This comes after the organization announced it had recently raised $359 million in a round of funding.

Liberty City Ventures led this round of funding. Additional investments came from Soros Fund Management, Winklevoss Capital, and Sequoia Capital China.

“The new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties. In addition, the several new and notable investors we have brought on board represent a powerful expansion of our partnerships and alliances,” said the co-founder of Animoca Brands, Yat Siu.

Animoca brand is a developer of video games that utilize non-fungible tokens. The company’s most famous product is The Sandbox, a metaverse-style game that allows users to trade, purchase, and mint NFTs on the OpenSea marketplace.

(All information was provided by NIKKEI Asia)

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