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Animoca Brands raises $75mn despite the Bear Market!

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Mr. Crypto Lemon 🍋
@vlemon
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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

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