Animoca Brands, a Blockchain developer and Singapore-based developer of blockchain games, announced on Thursday that it had raised $110 million from investors.
In July, the blockchain game developer raised $75. 3 million following a fundraising drive that now values the firm at A$8. 2 billion ($5. 5 billion) even as the market reels from a collapse in cryptocurrency prices.
Animoca Brands has invested in over 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 into digital assets and the metaverse became a tech buzzword. Although the firm did not provide a specific new valuation, it said that the capital raising valued the company “comparable to its last investment round.”