Animoca Brands completes $65 million in new funding round, doubling its valuation to $2.2 billion

NFT game and virtual real estate developer Animoca Brands doubled its valuation to $2.2 billion after closing a new round of funding of $65 million.

The latest funding round was conducted at a pre-money valuation of US$2.2 billion, with investors including gaming giant Ubisoft Entertainment, Liberty City Ventures, Sequoia China, Dragonfly Capital and others.

For a company that was delisted from the Australian Securities Exchange (ASX) in March 2020, it was all the more vindication, in part due to its involvement in cryptocurrencies.

According to the company's October 20 announcement, more than 43.8 million newly issued shares will be allocated to investors at A$2, or US$1.51, each.

We closed a $65M round at a pre-money valuation of $2.2B! Investors in this round of financing include Ubisoft, Sequoia China, Dragonfly Capital, etc.

— Animoca Brands (@animocabrands) October 20, 2021

Animoca, which has raised $203.88 million so far in 2021, became a crypto unicorn in June when it raised a total of $138.88 million at a $1 billion valuation.

The brand-focused Metaverse and interactive content company said the latest funding will be used for "strategic investments and acquisitions, product development and licensing of popular intellectual property."

Animoca co-founder Yat Siu outlined the company’s vision for the future of digital ownership and NFTs:

“In 2018, we developed a strategy based on our assessment that a future of digital property rights will revolutionize the industry by expanding financial inclusion, and this major change will start with the adoption of NFTs in games. Such a future is already here.”

He added: "With the support of our new strategic investor, Animoca Brands will continue to advance blockchain in gaming and beyond, bringing true digital ownership to billions of gamers and internet users."

It's another sign of the flood of money pouring into NFT games and virtual real estate companies.

On October 19, Galaxy Interactive, a venture capital firm focused on next-generation interactive technologies, announced that it had raised $325 million from 70 different investors for its second venture focused on virtual and augmented reality, artificial Fund for smart and NFT games.

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