Hong Kong-headquartered blockchain-focused game developer Animoca Brands announced that it has closed a second and final tranche of $50 million in its $138.88 million capital raise, conducted at a pre-money valuation of $1 billion.
Investors in this second tranche included Blue Pool Capital, Coinbase Ventures, Gobi Partners, Korea Investment Partners, Liberty City Ventures, Samsung Venture Investment Corporation, Scopely, Token Bay Capital, zVentures, the corporate venture arm of Razer Inc., and other investors, the company said in a statement on Thursday.
In the first tranche of the raise, Animoca Brands raised $88.88 million based on a valuation of $1 billion; The announcement on Thursday brings the total raised during the entire round to $138.88 million.
According to the statement, Animoca Brands has executed subscription agreements with various institutional and professional investors to raise a total of $138.88 million, divided in two tranches of $88.88 million and $50 million at a subscription price of A$1.10 ($0.82) per share, for a total of 164.8 million new shares.
The equity fundraise was based on a pre-money valuation of Animoca Brands of $1 billion. Animoca Brands’ corporate advisor Everest Ventures Group advised on and assisted with this capital raise.
Animoca Brands focuses on bringing digital property rights to video gamers and the Metaverse through the use of blockchain and non-fungible tokens (NFTs).
The new capital will be used to fund strategic investments and acquisitions, product development, and licenses for popular intellectual properties.
“The strong demand we saw in this raise is a clear endorsement for Animoca Brands’ mission to deliver digital property rights to gamers and build the Metaverse,” Animoca Brands co-founder and chairman Yat Siu said.
With the recent launch of the GAMEE, TOWER, and LMT tokens, Animoca Brands is a blockchain-based technology group spearheading the use of blockchain-based in-game rewards and creating innovative ways to monetize video games — a market estimated to be worth $179.7 billion in 2020.
To commemorate the achievement of its unicorn valuation, Animoca Brands will issue NFTs to its investors and key partners.
Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1 ®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon.
Animoca Brands’ portfolio of blockchain investments and partnerships includes Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Quidd, Gamee, nWay, Pixowl, and Lympo.