The Hong Kong-based company focused on advancing digital property rights for gaming and the open metaverse, Animoca Brands, has raised $75.32 million in fresh funding.
The participants in the funding round included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, and Cosmic Summit Investments Limited, amongst others.
The company plans to deploy the capital to fund strategic acquisitions, investments, and product development. It is also looking to secure licenses for popular intellectual properties and foster the progress of the open metaverse while promoting digital property rights for online users.
“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse,” said Yat Siu, co-founder and Executive Chairman of Animoca Brands.
Animoca Brands is working to transform digital ownership of users’ virtual assets and data using technologies including blockchain and NFTs. The company is also exploring several DeFi and GameFi opportunities, asset interoperability, and advancing an open framework to facilitate greater equitability for all participants in the open metaverse.
The company has carved a name for itself as one of the world’s leading technology groups in the blockchain and gaming sectors. It has innovated around decentralized in-game rewards and monetization in video games to power the emerging open metaverse.
“Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life,” said Emil Woods, Managing Partner at Liberty City Ventures.
The company manages a wide array of products and services, including the REVV token and SAND token; games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and has access to popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E.
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