Metaverse kings, Animoca Brands has raises over US$358,888,888 (approximately A$500.3 million) in capital at a pre-money valuation of over US$5 billion.
The round was lead by Liberty City Ventures, with other investors including 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, ParaFi Capital, Provident, Senator Investment Group, Sequoia China, Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, and others.
Animoca Brands has executed Subscription Agreements with various sophisticated and professional investors to raise a total of US$358,888,888 (approximately A$500.3 million) at a subscription price of A$4.50 per share, for a total of 111,173,515 new shares. Following this raise, Animoca Brands now has a total of 1,794,128,323 fully paid ordinary shares on issue.
Animoca Brands’ corporate advisor Everest Ventures Group advised on and assisted with this capital raise.
Animoca brands will use the new capital to funds it’ strategic acquisitions and investments, product development and licenses of popular intellectual properties.
Animoca brands continues its aim of building an open metaverse by bringing digital property rights to online users through the use of blockchain and NFTs.
Technologies which allow for true digital ownership of virtual assets and data, and make various DeFi and GameFi opportunities(play-to-earn), assetinteropability, and an open framework that can lead to greater equitability for all participants possible.
The global video game market was estimated to generate US$180.3 billion in 2021 (source: NewZoo), while the metaverse market size is expected to grow to around US$829 billion by 2028 (source: Emergen Research).
AB looks to bolster their lead as one of the world’s leading technology groups in blockchain and gaming by spearheading and innovating decentralized in-game rewards and monetization in video games as it works to build the open metaverse (the most recent company presentation is available at https://www.animocabrands.com/investors).
During the course of 2021, Animoca Brands raised US$216.28 million to power its vision of digital property rights and the open metaverse (see announcements of 13 May, 1 July, and 20 October 2021), while its subsidiary The Sandbox completed a capital raise of US$93 million (see announcement of 2 November 2021).
Animoca Brands and subsidiaries offer a broad portfolio of game products, both centralized and decentralized, branded and original, with coverage across most primary platforms including mobile devices, game consoles, PC, web, and blockchain. Products include games ranging from hyper-casual to hardcore, as well as collectibles, utility tokens, esports titles, and more.
Some of the company’s major blockchain game projects include The Sandbox and its associated utility token SAND, the upcoming Phantom Galaxies “AAA” blockchain third-person shooter, the REVV token ecosystem (REVV Racing, F1® Delta Time, MotoGP™ Ignition, and Formula E: High Voltage), the Arc8 platform and its GAMEE utility token, as well as the TOWER, LMT, BONDLY, and PROSPER token projects, among others.
In addition to its product development and publishing businesses, Animoca Brands is an active investor in more than 150 of the world’s most meaningful NFT and metaverse-related companies, including OpenSea, Dapper Labs, Yield Guild Games, Star Atlas, Axie Infinity, Thetan Arena, and many others.
Animoca Brands has various subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Lympo, and Bondly. In partnership with Brinc, Animoca Brands operates Launchpad Luna, an accelerator to foster startups in the blockchain and NFT space.