The non-fungible token and blockchain gaming company Animoca Brands has announced the firm has raised $75 million from investors such as Kingsway Capital, Liberty City Ventures, and others. The capital injection of $75 million brings Animoca’s overall pre-money valuation to $5.9 billion.
Animoca explained that the new funds will be dedicated toward funding “strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties (IP), and advance the open metaverse.” The company plans to bolster the promotion of digital property rights with the funding as well.
The Liberty City Ventures managing partner, Emil Woods, believes that Animoca Brands is a pioneer at the forefront of the blockchain, NFT, and gaming space. Woods estimates that in the next ten years society will welcome digital property and ownership offered by blockchain technology. “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,” Woods explained in a statement during Animoca’s funding announcement.
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