Animoca Brands Corporation Limited, the Hong Kong-based company advancing digital property rights for the open metaverse, announced Thursday that it has closed a strategic funding round for $110 million led by Temasek, Boyu Capital, GGV Capital.

Animoca Brands said in a statement the funding was conducted based on the issuance of convertible notes to a small number of institutional investors at a conversion price of A$4.50 ($3.06), valuing the company similarly to its previous funding round.

Its existing investors Mirae Asset Management and True Global Ventures (TGV) also participated in the round.

Animoca Brands 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.

According to the statement, the strategic consortium of new investors, formed by Temasek, Boyu Capital and GGV Capital, will provide advice to the company as it continues to grow and build its organisational capabilities.

This will include engaging and advising the Company on a range of business issues as well as providing input on its business and capital plans.

“We are incredibly pleased to complete a special strategic round of fundraising comprising several of the most respected institutional investors in the world, and we are honored by the continued support from existing investors,

“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry,” said Yat Siu, Co-Founder and Executive Chairman of Animoca Brands.

Animoca Brands is a digital entertainment, blockchain, and gamification firm 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, TinyTap, and Be Media.

Animoca Brands also 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.

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.

Using technologies including blockchain and non-fungible tokens (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.

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