Wednesday, October 20, 2021

Animoca Brands raises $ 113.5 million to develop the NFT video game market

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Each investor and key partner will be issued a non-fungible token (NFT) by Animoca as a way of commemorating the unicorn achievement. The unlisted digital entertainment group issued 93.4 million ordinary shares at $1.10 each to raise the funds, attracting a string of global investors including Kingsway Capital (UK), HashKey Fintech Investment Fund (Asia-Pacific), AppWorks Fund (China), Axia Infinity Ventures (US) and Metapurse (Singapore).

Proceeds from the raising will be primarily used to deliver digital property rights to video gamers through the use of blockchain NFTs, enabling benefits such as play-to-earn capabilities and digital asset inter-operability. “This strategic capital raising firmly establishes Animoca as one of the leading and most valuable companies in the NFT space, in Asia and globally.”

“We are honoured to have secured investors that share our vision for NFTs redefining equity and property rights online,” he said. Mr Siu said funds would also be earmarked for new product development, strategic investments and acquisitions, and the purchase of additional licences for popular intellectual properties to “cement Animoca’s leadership” in the NFT and gaming space.

Animoca co-founder and chairman Yat Siu welcomed the strong interest from the investment community. Strong interest

Kingsway chief executive officer Manuel Stotz pointed to the importance of supporting Animoca’s efforts in promoting “the power of disruptive technologies”. Disruptive technologies

Leading force “We are proud to support Yat and his talented team at Animoca Brands in making this vision a reality and are honoured to co-invest alongside such a world-class roster of global investors.” “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 decentralised and equitable global internet,” he said.

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