Animoca Brands Raises $360 Million

Hong Kong-based Animoca Brands has raised over $350 million to reach a $5 billion valuation. The firm specializes in building blockchain-based virtual worlds for its clients, and it has invested in more than 150 NFT or metaverse-focused companies like OpenSea. Interestingly, the firm gets about 7.5% of every transaction of its NFTs on the platform. After this most recent funding round, the company is prepared to invest in NFT, gaming, and metaverse acquisitions. Industry reporting indicates that the company has tripled its value since October of 2021. This latest funding round was led by Liberty City Ventures, which attracted investors like Soros Group, Sequoia China, Provident, and many more. After getting delisted by the Australian Stock Exchange in 2020, the firm operates as an unlisted public company, embracing the crypto industry, especially as Bloomberg reports that venture funds have allocated $17 billion to crypto and blockchain startups in 2021 alone. Additionally, crypto retirement accounts are growing, with iTrustCapital raising $125 million in Series A to reach a valuation of $1.3 billion.