Token and metaverse business Animoca Brands Corp. is valued at $5 billion after a fundraising round headed by Soros Fund Management and the Winklevoss twins’ venture capital firm.
Cryptocurrency exchange FTX Trading Ltd. achieved $25 billion in October, and NFT trading platform OpenSea hit $13 billion this month. Animoca’s fresh capital offering of $359 million surpasses its full-year total for 2021.
The current round was led by Liberty City Ventures and includes Mirae Asset, Sequoia China, Kingsway, Pacific Century Group, and C Ventures. Animoca and its subsidiaries offer blockchain-based NFTs and games for mobile, console, and online.
“Animoca Brands is likely the best positioned firm in this market globally,” said Manuel Stotz, founder and CEO of Kingsway Capital.
In 2021, NFTs became a new channel for speculative investments as well as new commercial prospects for artists, businesses, and celebrities. Animoca is one of the companies seeking new material.
The Hong Kong-based company has partnered with prominent companies including football teams, racing events, and entertainment franchises to create and distribute NFTs. It issued NFTs to investors to celebrate reaching $1 billion in valuation in July.
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