Animoca Brands raises $110M to protect digital property rights

Crypto game developer Animoca Brands has raised $110 million in a new funding round.

The largest investments during the round were made by such companies as GGV Capital, Temasek and Boyu Capital. Animoca Brands said the new fundraiser had little effect on its market valuation, but the company declined to say. In July, the company was valued at about $5.5 billion.

New investments Animoca Brands management promises to invest in the financing of its subsidiaries and the acquisition of new ones, the development of products and the promotion of its metaverse. The company also plans to obtain regulatory licenses for its popular projects.

“We are delighted that the round was a success and even more delighted that some of the world’s most respected institutional investors participated. We have grown significantly in the last year. We will continue to develop our Web3 products,” said Yat Siu, executive chairman of the company.

Siu previously stated that despite the recession in the cryptocurrency market, Web3 will continue to grow and develop, as Web3 is the natural transition of the Internet into its new version.

Animoca Brands now offers a wide range of products, including REVV and SAND tokens, as well as The Sandbox metaverse, Crazy Defense Heroes and Crazy Kings games. The company also signed a contract with Disney, rapper Snoop Dogg, The Walking Dead franchise and others to release original products using new technologies.

The company previously said it was funded for the first time by Temasek, a Singaporean state-owned company that is one of the world’s largest technology investors.