Animoca Brands announces raising an additional $110M for open metaverse


  • Animoca Brands has made $110 million via the sale of convertible notes to institutional investors.
  • The company is known for investments in web3 startups dedicated towards an open and interoperable metaverse.
  • Animoca Brands publishes personal NFT games too

Animoca Brands has announced that it has generated an extra $110 million in funding in a round led by Boyu Capital, Temasek and GGV Capital. 

The fundraiser was organized as a sale of convertible notes that were issued at a conversion price of AUD $4.50. However, it is subject to conditions concerned with a possible IPO, liquidity event or equity financing round.

Mirae Asset Management and True Global Ventures are other investors who participated in the round. According to Animoca, the convertible notes sale values the firm at a valuation of $5.9 billion which was announced in July, a time when it generated $75 million.

The company has raised funding worth $775 million in multiple rounds, which includes a $359 million raise that took the firm above a $5 billion valuation.

Yat Siu, co-founder and Executive Chairman, said that Animoca Brands has evolved considerably in 2021. The new investors will add value through strategic advice as well as perspective.  

The firm has invested in 300 plus startups which include several leading NFT and web3 companies. 

It has a sheer focus on companies that are working on an open blockchain-based metaverse. 

Other than investing in several web3 startups in the gaming sector, Animoca Brands publishes games, which includes The Sandbox, the forthcoming Ethereum-dependent metaverse game. Furthermore, it has acquired three game studios with plans to add more.