Hong Kong-based Animoca Brands, a Hong Kong-based firm that develops digital property rights for games through non-fungible tokens (NFTs), has raised $50 million in the second tranche of its unicorn funding round.
The latest round was joined by Blue Pool Capital, a Hong Kong-based investment firm co-founded by Alibaba’s Jack Ma and Joe Tsai in 2014; Gobi Partners; Korea Investment Partners; Samsung Venture Investment Corporation; and Token Bay Capital.
A slew of US investors also participated in the fresh funding round including Coinbase Ventures, Liberty City Ventures, Scopely, and Razer’s corporate venture arm zVentures, among others.
The total corpus raised by Animoca in the two tranches of its unicorn funding round now stands at $139 million.
Animoca achieved unicorn status in May this year when it raised $89 million at a valuation of $1 billion. The round was participated by the UK alternative asset manager Kingsway Capital, digital asset manager and financial technology group Hashkey Fintech Investment Fund, and RIT Capital Partners (Formerly Rothschild Investment Trust), a British investment trust with a focus on quoted securities and quoted special situations.
Animoca will use the proceeds for strategic investments and acquisitions, product development, and licences for popular intellectual properties.
As part of the deal, Animoca will issue NFTs to its investors and partners, it said.
Animoca, which was founded in 2014 by Yat Siu and got listed on the Australian Securities Exchange in 2020, brings digital property rights to video gamers and the Metaverse through blockchain and NFTs that provide true digital ownership, play-to-earn capabilities, and digital asset interoperability. It also conducts investment activities in startups such as Dapper Labs, and Opensea.
Some of its portfolio games include F1® Delta Time, The Sandbox, and MotoGP™ Ignition, as well as associated tokens, including REVV, and SAND.
“By creating games and worlds around ownership of digital goods, Animoca Brands has introduced a true paradigm shift, placing power with users instead of developers. We’re seeing the emergence of a completely new ecosystem — a true metaverse,” said Gobi Partners managing partner Chibo Tang in the statement.