Animoca Brands is Building the Open Metaverse | Bringing Digital Property Rights to Users Through Blockchain & NFTs

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Web3 and the Metaverse will be enhanced by blockchain company Animoca Brands

Animoca Brands has announced the firm has raised $358.8 million to help build the non-fungible token (NFT) industry and “build the open metaverse.”

The capital raise follows the firm’s previous $65 million and $138.88 million raises last year and today, Animoca Brands has an overall valuation of $5 billion. The $358 Million in Financing Raised was led by Liberty City Ventures, Blockchain Company Has Pre-Money Valuation of $5 BillionThe firm Animoca Brands is a global developer utilizing popular brands, gamification, A.I., blockchain, non-fungible tokens (NFTs), and mobile technology. On Tuesday, the company announced that the firm has secured $358.8 million in a financing round led by Liberty City Ventures.

In a statement sent to News, Animoca Brands further detailed that other investors included Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, and Parafi Capital.

In addition to using the financing to increase NFT and metaverse adoption

Animoca Brands said that the “new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.” Animoca Brands has a strong focus on building the metaverse by leveraging blockchain solutions and NFT technology. The company’s $358.8 million financing announcement adds:

These technologies enable the true digital ownership of users’ virtual assets and data, and make possible various [decentralized finance] and gamefi opportunities (including play-to-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants.

The company’s blockchain projects include The Sandbox metaverse and its SAND token, a blockchain third-person shooter called Phantom Galaxies, REVV Racing, the Arc8 platform and its GAMEE utility token, and more. The managing partner at Liberty City Ventures, Murtaza Akbar, detailed during the financing announcement that Animoca Brands “is demonstrating to the world the game-changing characteristics of Web3 and the open metaverse.”

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