Animoca Brands is one of the major platforms within the crypto-blockchain industry and it wants to gain even more ground within the sector.
In recent years, Animoca Brands has gained so much name in the world of blockchain and metaverse gaming. For this purpose, the brand has collaborated with multiple blockchain and metaverse-based companies.
Animoca Brands has Raised Funds
Just recently, Animoca Brands made an official announcement in regard to raising funds for its business expansion.
Per the company, it has recently carried out a funding round to generate funds for its business expansion in the crypto-blockchain sector.
The company has confirmed that Temasek, a major investment company based in Singapore has led the funding round.
Animoca Raised $110 Million
Animoca Brands announced on Thursday that it recently carried out a funding round in collaboration with Temasek. They successfully generated $110 million from the particular funding round.
Strategic funding round was carried out by Animoca Brands, where the funds were raised by issuing a small number of institutional investors with convertible notes.
The convertible notes released issued for the funding round amount to $3.0 per note or AU $4.50 per note.
Participants in the Funding Round
The funding round saw the participation of new investors. Among these investors were GGV Capital, Boyu Capital, and Temasek.
GGV Capital is a major venture capital firm that has global recognition. Boyu Capital is a private equity firm, while Temasek is an investment company that is based in Singapore.
More Support for Animoca Brands
With their contribution, the new investors have formed a consortium, which would back Animoca Brands. The company will be able to seek guidance, support, and advice from the consortium going forward.
This would be a huge benefit for Animoca Brands as the company will be able to move forward without any obstacles. With so much support coming from the consortium, the company will be able to grow significantly.
Most importantly, the company will gain the opportunity of building a strong and well-decorated organizational structure. The main purpose of the efforts would be to form an environment where the blockchain and metaverse sectors get to thrive.
Future Support is locked for Animoca Brands
Animoca Brands executives are excited about the latest developments made by the company in the metaverse and blockchain segments.
In addition to the new investors, the old investors are also determined to keep backing Animoca Brands in terms of capital gains and business expansions.
The existing (old) investors supporting Animoca Brands include True Global Ventures and Mirae Asset Management.
With support coming in from so many investors, Animoca Brands will seek more exposure in the metaverse sector. It aims on launching new NFTs and tokens that the users will be able to acquire and trade to make profits.
The ultimate goal for Animoca Brands is to bring more mainstream exposure and investors to the Web3 and metaverse ecosystem.