Crypto gaming firm Animoca Brands hits $5.5 bln valuation after $75 mln fundraise
— Brands, Read, Worth, Billion, Fundraise, Valuation, Gaming, Metaverse, Nfts, Hits — 1 min read
Animoca Brands has raised $75.3 million following a fundraising drive that now values the firm at A$8.2 billion ($5.5 billion) The latest raise was delayed because some investors were worried by the collapse of TerraUSD. Investors fear contagion across crypto markets as some crypto lenders have frozen customer withdrawals and crypto hedge fund Three Arrows Capital entered liquidation last month. Animoca has invested in more than 340 companies to build its vision of a "metaverse" based around blockchain technology, in which virtual assets can be bought and sold in the form of non-fungible tokens (NFTs) using cryptocurrencies. The cryptocurrencies and NFTs used in blockchain-based virtual world games surged in 2021 as speculators piled in to Source