Hi HODLers,
Despite the very tough Bear market, Animoca Brands, a major backer of the metaverse and NFT gaming, disclosed that it had raised $75 million at a valuation of $5.9 billion.
The amount of $75mn is quite small compared to previous raises but they manage to increase their overall valuation which is impressive.
As a comparison last year, Animoca Brands raised $359 million at a valuation of $5 billion.
I imagine this extra cash increase their safety net in case the downturn continues for a while.
The company is behind:
- Dapper Labs,
- NBA Top Shots,
- The Sandbox
- OpenSea, and
- Axie Infinity Developer Sky Mavis
As Emil Woods, a partner of Liberty City Ventures who participated in the current funding round said:
“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,”
As I am finishing to read Snowcrash which is the bible for Metaverse believers. I am getting more and more excited about the prospects as well as being quite frighten of the potential implications.
There are a lot of exciting stuff happening in the gaming and metaverse spaces and I believe this is the time to pick the long term winner for great returns. Most importantly, this will be an amazing journey with passionate individuals and a way to truly build decentralized communities!
In any case, stay safe out there and keep learning!
Source: NFT Game Publisher Animoca Raises $75M—At Higher Valuation Than Before Crypto Crash, Decrypt