Crypto Unicorn Raises Funds to Create NFTs for Gamers
(Bloomberg) -- Animoca Brands, a Hong Kong-based blockchain game and non-fungible token (NFT) creator, has raised $50 million as part of its latest funding round.
The new tranche, which takes the firm's most recent funding round to about $139 million and has been conducted at a pre-money valuation of $1 billion, included participation from investors Blue Pool Capital, Coinbase Ventures, Liberty City Ventures and Samsung Venture Investment Corp., the company said in a statement.
The previous tranche in the round came in May and had been led by Kingsway Capital, with participation from investors including Huobi and HashKey Fintech Investment Fund.
The new capital will be used to fund strategic investments and acquisitions, product development and licenses for popular intellectual property, according to the statement. Most recently, the company announced it had signed up the U.K.'s Queens Park Rangers Football Club as a partner brand to develop and launch NFTs with on its platform. As part of its latest announcement, Animoca Brands said it's going to issue NFTs to its investors and key partners to commemorate its unicorn status.
Founded in 2014, Animoca Brands develops games including The Sandbox and F1 Delta Time, where players collect and trade NFTs on a blockchain-based platform. It's also an early investor in Dapper Labs, the maker of CryptoKitties and NBA Top Shot. The firm delisted from Australia's stock exchange in March 2020.
©2021 Bloomberg L.P.
-
India's Troika Of Good Luck | Joining The Dots
A weaker Trump, a cooling AI trade and resilient earnings have put Indian markets back in favour. Rising inflation could spoil the party.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
