Animoca Brands set to announce $100 million funding 

The funding round was led by Temasek

Animoca brands is set to announce the raising of more capital in the form of convertible bonds. This comes from a report by Bloomberg this Tuesday.

The investment firm was able to secure $100 million in a deal with Temasek Holdings Pte, a Singaporean state investor. This follows previous funding rounds of $359 million and $75 million leaving the company at a value well over $6 billion.

Temasek does not directly involve itself in the investment of cryptocurrencies and prefers to back companies that are in the space instead. Animoca is one of the biggest blockchain investors currently with a portfolio that includes gaming, social media, and finance companies. 

Read More: Animoca Brands Set To Acquire WePlay Media

Animoca has a plan to take on big tech companies such as meta with its investments and holdings and is already a big name in the NFT and web3 gaming sector. The company has invested in other companies in web3 such as OpenSea, Dapper Labs, Yield Guild Games , and Axie infinity. The company is also known for its subsidiary The Sandbox which is an open world metaverse game.

The announcement of the funding is likely to come soon as the company plans to use the funds to continue to build the portfolio of the company.

Leave a Reply