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Animoca Brands, an NFT game maker, has claimed the title of crypto’s new unicorn after earning nearly $89 million at a $1 billion valuation.
Animoca Brands, an NFT-focused game maker, has announced the completion of a $88,888,888 capital raise based on a $1 billion valuation.
The funding round was confirmed on Thursday, with Kingsway Capital, HashKey Fintech Investment Fund, RIT Capital Partners, and Huobi among the participants. Up to 93.4 million newly released Animoca Brands shares will be sold to investors at a subscription price of $0.85 per share.
Yat Siu, co-founder and chairman of Animoca Brands, stated that the company’s strategic investors share the company’s “vision for NFTs redefining equity and property rights online.” Manuel Stotz, the founder and CEO of Kingsway, added:
“The emergence of digital property rights, whether via Bitcoin or NFTs, is perhaps the greatest opportunity for financial inclusion for the bottom three billion frontier and emerging market consumers, as well as an opportunity for a more decentralized and thus more equitable global internet.”
Animoca will issue a special nonfungible token to its founders and core associates to celebrate the boost.
The funds will be used for product creation, acquisitions, and acquiring licencing rights for the company’s games, according to the company. Animoca has launched notable titles such as The Sandbox, F1 Delta Time, and MotoGP Ignition, as well as invested in leading NFT teams such as Dapper Labs, OpenSea, and Axie Infinity.
Animoca was named one of Australia’s fastest-growing firms and was named to Statista’s list of the top 500 high-growth companies in the Asia-Pacific region for 2021.
Animoca revealed in February that its entire REVV motorsports ecosystem will be deployed on Polygon’s layer-two sidechain, starting with F1 Delta Time, to alleviate the high gas fees associated with using Ethereum’s mainnet.
An NFT covering 5% of the Monaco track in F1 Delta Time was auctioned off for $222,000 in December. The successful bidder would be able to profit from races held on the course.