Animoca Brands Hits $5.9 Billion Valuation As Crypto Winter Deepens
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Animoca Brands has secured $75 million in a funding round that values the Hong Kong-based company at $5.9 billion. The round is a second tranche of the $358,888,888 fundraising announced in January. Proceeds will be used for acquisitions and investments, Animoca said. The market value of all cryptocurrencies has plummeted 70% from its peak of $3 trillion in November. Animoca's latest move comes as the crypto market continues its descent into the doldrums. The company has already led a $32 million financing round of blockchain game maker Planetarium Labs, and acquired Prague-headquartered Notre Game, which is advancing into the blockchain gaming industry. The sector has remained relatively resilient amid the market downturn. Source