Animoca Brands, a leading developer of blockchain-powered games and collectibles has secured over $75 million in funding. Animoca is boasting an impressive portfolio of titles including CryptoKitties, Etherbots: Battle Bots, GameTracts and the upcoming game Drag City that will be powered by its own cryptocurrency.
Animoca Brands has secured $75M in funding amid the bear market. The company is a blockchain-based mobile gaming platform that offers games on both iOS and Android.
Industry-leading blockchain developer and venture capital company Animoca Brands just earned $75 million in a financing round despite the current bear market. Diverse investors, including Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, Cosmic Summit Investments Limited, SG Spring Limited Partnership Fund, and Generation Highway, participated in the round.
The new funds will be used to fund strategic acquisitions, investments, and product developments, as well as to secure licenses for popular IPs and advance the open metaverse by promoting digital property rights for online users, according to the words of the round’s subsequent press release and those of the company’s co-founder and executive chairman Yat Siu.
Siu said the following while discussing the significance of such areas: “Digital property rights constitute a society-defining generational transition that has an influence on everyone online and will pave the way for the establishment of the open metaverse. As we endeavor to bolster Animoca Brands’ position as the industry leader in Web3 and in the area of real digital ownership, we are very grateful for the investors’ continued support.
The company’s value has increased to $5.9 billion overall thanks to the relatively modest infusion of cash; this is an outstanding $900 million higher than it was at the beginning of the year.
The “weth exploit” is a way to steal digital tokens from the Ethereum blockchain. It was created by an anonymous group of hackers that managed to steal $75 million worth of digital tokens from the platform.
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