Animoca Brands, the company driving digital property rights via NFTs and gaming to build the open metaverse, announced that it has raised US$75.32 million.

According to a report by CoinDesk, the fundraise values Animoca Brands at US$5.9 billion.

The current raise is the second tranche of the funding previously announced in January 2022, which was extended to accommodate due diligence processes.

The company had previously secured about US$358.8 million at a pre-money valuation of US$5 billion in the first tranche.

Investors in the current tranche included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway, Cosmic Summit Investments Limited, and others.

Animoca Brands said that it 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.

Using technologies including blockchain and NFTs, Animoca Brands added that it 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.

Yat Siu, Co-founder and Executive Chairman of Animoca Brands said,

“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse.

 

We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”