In addition to the almost $435 million already raised by Animoca Brands since January, the Singaporean government’s investment arm, Temasek, is allegedly participating in a $100 million funding round for the blockchain investment firm.
Based on information from unnamed sources, Bloomberg reports that Temasek will be leading the financing round, which will add to the $359 million raised by Animoca in January and the $75 million raised by the company this summer.
How large is Animoca Brands?
According to the study, Temasek invests in crypto-related service providers rather than in crypto itself, and Animoca has acquired stakes in 340 finance, gaming, and social media companies over the past five years and continues to do so despite the crypto market collapse.
According to the research, Animoca has transformed from a modest mobile game producer into Asia’s largest blockchain investor and its primary business is the sale of crypto tokens.
Holdings owned by the company include:
What are the funds for?
Early on in the funding round, Animoca Brands told investors and analysts that company planned to utilise the funds for things like mergers and acquisitions, product development, and the purchase of intellectual property rights, as reported by Reuters on January 18.
Within the report, Tyler Winklevoss, founder of Winklevoss Capital spoke. So did Gemini. Winklevoss participated in the funding round. He noted at the time that “Animoca Brands has built and nurtured top brands in the decentralised gaming and metaverse market.” The organization’s vision and goals are deeply important to us, and we’re thrilled to provide our support to them.
How did Animoca Brands grow?
PYMNTS reported on August 18 that Animoca Brands had invested early in CryptoKitties, the game responsible for popularising NFTs. Since then, Animoca has grown substantially.
According to Bloomberg, the corporation has become the largest investor in Asian blockchain initiatives, with Axie Infinity, a “play-to-earn” crypto game, being the most successful NFT project of any sort.
In less than five years, Animoca went from being a modest mobile game developer to being Asia’s largest blockchain investor, thanks to the accumulation of a portfolio of more than 340 firms in the financial, gaming, and social media industries. It is Yat Siu’s hope that by constructing virtual worlds on the blockchain, he can challenge the supremacy of Big Tech giants like Meta Platforms Inc. and Microsoft Corp.
What about the Crypto Winter?
Most investors are still hurting from the crypto winter. It has wiped out $2 trillion in digital asset value since November. According to PitchBook data, funding for businesses dealing with digital currencies dropped 26% from the previous quarter. It is expected to drop even further in the current quarter.
In an interview with Bloomberg News, Siu said that Animoca plans to use the current cryptocurrency market decline. They’ll use it to increase its holdings in key industry participants and digital tokens. The company hopes to go public within the next few years. Siu said this would be contingent on how well its primary business model fares. This model involves selling crypto tokens and earning a fee on secondary transactions. They’ll wait to see how it is received by the market.
The capital raising process for Animoca has not gone without hiccups. Bloomberg News reported in July that potential investors, including buyout firm KKR & Co., had opted to pull out of its investment round. This is following the market meltdown.
What brands does Animoca own?
The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game, TinyTap, and Be Media are just a few of its many subsidiaries.
How much are Animoca Brands shares worth?
Price per share for Animoca Brands Corporation Limited is currently $0.18.
Does Animoca Brands have a token?
In all Animoca Brands’ REVV Motorsport blockchain games, the REVV token is used. It’s used as the primary money for utility, purchase, and activity.
Why are Animoca Brands delisted?
In March 2020, when it was only worth $120 million, Animoca was notably removed from the ASX for exchanging stock for crypto tokens. This caused confusion among investors and made it difficult for accountants to close books.
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