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Finance

Animoca Brands Valuation More Than Doubles to $5.5B in Three Months

The investor in non-fungible token (NFT) and metaverse projects raised almost $360 million in its latest funding round.

By Jamie Crawley
AccessTimeIconJan 18, 2022 at 12:30 p.m. UTC
Updated May 11, 2023 at 5:52 p.m. UTC
The Animoca Brands team in Hong Kong (Animoca)
The Animoca Brands team in Hong Kong (Animoca)

Animoca Brands, an investor in non-fungible token (NFT) and metaverse projects, raised almost $360 million at a valuation of $5.5 billion.

  • The funding round represents a doubling in Animoca's value in less than three months. The venture capital firm raised $65 million at a $2.2 billion valuation in October.
  • Liberty City Ventures led the latest fundraising round, which included contributions from Winklevoss Capital, Soros Fund Management and 10T Holdings.
  • Animoca plans to use the funds to fuel acquisitions and investments, product development and licenses for popular intellectual properties, according to an announcement Tuesday.
  • The company's portfolio contains more than 150 NFT-related projects, including play-to-earn game Axie Infinity, Dapper Labs, the company behind NBA Top Shot, and OpenSea, the largest NFT trading platform. It also has a majority stake in metaverse game The Sandbox.
  • Most recently, Animoca led an $8 million funding round into Burnt Finance, an NFT platform built on the Solana blockchain.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter