NFT Game Developer Animoca Brands Raises Capital at $1B Valuation
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NFT Game Developer Animoca Brands Raises Capital at $1B Valuation

May 14, 2021      Sahaj Sharma

NFT game developer Animoca Brands has recently claimed the status of the latest unicorn of crypto after raising almost $89M at a $1B valuation. The digital property rights providing company to the gamers via NFTs announced that it has managed to raise a capital of $88,888,888 at a price per share of A$1.10 based on the valuation of $1 Billion.

NFT Game Developer Animoca Brands Claims the Status of the Latest Crypto Unicorn

In the announcement that was made on Thursday, participants like Kingsway capital, HashKey Fintech Investment Fund, RIT Capital Partners, and Huobi were included. As revealed in the announcement, up to 93.4 million latest issued shares in Animoca Brands are going to be distributed to the investors at a subscription price of $0.85 each.

The Co-founder and Chairman of Animoca Brands, Yat Siu noted that its strategic investors share the vision of the firm for NFTs redefining equity and property rights online.

In addition to this, the Founder and CEO of Kingsway, Manuel Stotz said:

“The emergence of digital property rights, whether via Bitcoin or NFTs, is perhaps the greatest opportunity for financial inclusion for the bottom three billion frontier and emerging market consumers, as well as an opportunity for a more decentralized and thus more equitable global internet.”

The Further Utilization of the Fund Raised in Gaming Spaces

The funding raised is considered to be a strategic milestone that will be positioning Animoca Brands for further aggressive growth as it continues to bring digital property rights to the gamers. 

This will be done through the use of blockchain and non-fungible tokens enabling powerful benefits such as play-to-earn abilities and digital asset interworking.

Animoca made an announcement in the month of February revealing that its entire REVV Motorsports ecosystem is going to be deployed on the layer-two sidechain of Polygon in order to alleviate the high gas fees associated with using the mainnet of Ethereum starting with F1 Delta Time.

 

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#Animoca Brands #Game Developer #NFT
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.