Blockchain game publisher Animoca Brands announced that the company has raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. The company raised funds by issuing convertible notes to a number of institutional investors.
Animoca Brands Raises $110 Million From Strategic Investors
Animoca Brands has raised another $110 million this month after the company guaranteed $100 million from Temasek and others, at the end of August. The latest capital increase, announced on September 8, saw Temasek, Boyu Capital, and GGV Capital leading the round, with Mirae Asset Management and True Global Ventures also participating.
Hong Kong-based crypto gaming, NFT, and venture capital company Brand Animoca (AB) has been able to grow through several investment rounds in the middle of the crypto season. The Japanese subsidiary, known as Animoca Brands KK (Animoca Brands Japan), purple $45 million from Japan’s largest bank MUFG, and parent company Animoca Brands KK AB.
In the latest announcement revealed on Monday, Animoca Brands said Temasek, Boyu Capital, and GGV Capital will advise the company and the company will provide “input on [Animoca Brands’] business plan and capital.” The Web3 and blockchain game publisher plans to use the new capital for “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties.”
Furthermore, an announcement was sent to Bitcoin.com News detailing that it really aims to bolster the open metaverse. Yat Siu, co-founder and executive chairman of Animoca Brands, explained that the company has experienced significant growth over the past 12 months.
“Animoca Brands has grown significantly as a company in the past year, and our new investors will provide strategic advice and perspective as we build a world-leading company extending digital property rights in the Web3 industry,” Siu said in a statement.
Web3, NFT Market, and Slide Interest, Report Says Company Mulls IPO
Non-fungible tokens (NFTs) and Web3 have seen a decline in overall market value and interest in 2022 since peaking last year. During the past 30 days, NFT sales data from cryptoslam.io showed monthly NFT sales reaching $543.77 million but down 20.05% lower than $680.12 million the previous month.
In Google Trends (GT), the search term “Web3” hit the top 100 score during the week of December 19-25, 2021. Data from September 4-10, 2022, shows that the query “Web3” has a worldwide GT score of 67 today. Search term “NFT” was even lower as the week of September 4-10 showed a score of about 14.
Animoca Brands has managed to stave off the downturn and guaranteed $ 75 million in mid-July as the company has received war funds for the past two years. According to a report from Forbes, Animoca Brands is considering an initial public offering (IPO). Crunchbase data show blockchain game publisher and company Web3 has raised $775.3 million since its founding in 2014.
What do you think about Animoca Brands raising $110 million from investors? Let us know what you think about this subject in the comments section below.
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