Animoca Brands, the Hong Kong-based company advancing digital property rights for gaming and the open metaverse, announced Tuesday that it has completed a capital raise of $75.32 million.

The current raise is the second tranche of the funding previously announced on 18 January 2022, which was extended to accommodate due diligence processes, Animoca Brands said in a statement.

Investors in the current tranche included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others.

Animoca Brands said it will use the new capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.

“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse. We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership,” said Yat Siu, Co-Founder and Executive Chairman of Animoca Brands.

Using technologies including blockchain and NFTs, Animoca Brands is working to deliver true digital ownership of users’ virtual assets and data, enabling various DeFi and GameFi opportunities (including play-and-earn), asset interoperability, and an open framework that can lead to greater equitability for all participants in the open metaverse.

The company has established itself 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 for the emerging open metaverse.

“Over the next decade, humanity will discover and embrace the game changing power that blockchain based digital ownership of assets will bring to countless aspects of daily life. We are proud to support Animoca Brands, a highly talented team of visionaries and builders at the forefront of this movement to embrace and fulfil the promise of Web3,” said Emil Woods, Managing Partner of Liberty City Ventures.

Animoca Brands has executed subscription agreements with sophisticated and professional investors to raise a total of $75.32 million at a subscription price of A$4.50 per share, for a total of 23.24 million new shares. Following this raise, Animoca Brands will have a total of 1.84 billion fully paid ordinary shares on issue.

Animoca Brands claimed itself as the leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse.

The company 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 Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others.

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