The Australian game company Metaverse Animoca brands raised nearly $360 million in one funding round, valuing the company north of $5 billion.
As Reuters reported on Tuesday (January 18th), the funding round was led by Liberty City Ventures, with participation from Gemini Frontier Fund, Sequoia China and Winklevoss Capital.
“Animoca Brands has built and grown leading brands in the decentralized gaming and metaverse space,” said Tyler Winklevoss, Founder of Winklevoss Capital and Gemini. “We are extremely convinced of his vision and we are delighted to support his mission. »
The company has issued 111 million shares worth $358 million and says it will use the money for acquisitions and investments, as well as developing products and licensing intellectual property. Animico invests and builds virtual worlds online, where users can buy assets – land, accessories, etc. – in the form of NFTs.
See also: Gaming Platform The Sandbox Nets 25% Boost in SAND Token After Adidas Mention
Among these worlds is The Sandbox, one of the two largest metaverses in the crypto world. As PYMNTS reported last year, The Sandbox’s SAND token saw its value surge after Adidas hinted at a partnership with the company, and also surged when Facebook announced it was changing its name. in Meta.
Reuters notes that the chairman and co-founder of Animoca Yat Siu expressed his opinion that the development of the metaverse will depend on the ability of users to own blockchain-backed assets. His company typically gets about 7.5% of each trade from its NFTs on the OpenSea NFT marketplace.
Read more: Microsoft’s $70 billion bid for video game maker could test market definitions
The news comes the same day as reports that Microsoft was close to a nearly $70 billion deal to buy Activision Blizzard, the video game maker behind the “Call of Duty” series, in the part of what would be the biggest acquisition in the history of Microsoft and video games.
This deal was also seen as an indication of Microsoft’s interest in the Metaverse, something the CEO Satya Nadella expressed interest.
“Gaming is the fastest growing and most exciting entertainment category on any platform today and will play a key role in the development of metaverse platforms,” Nadella said.