Animoca Brands, the company that delivers digital property rights to gamers in form of NFTs (non-fungible tokens), revealed that it has completed a capital raise of $88,888,888 based on a valuation of $1 billion.
The investors involved in the round consist of Kingsway Capital, RIT Capital Partners (formerly known as Rothschild Investment Trust), HashKey Fintech Investment Fund, Huobi, and more.
The funding is a part of Animoca’s strategic plan that aims to encourage growth while it uses blockchain and NFTs to deliver digital property rights to gamers, bringing highly beneficial features like play-to-earn capabilities and digital asset interoperability.
The new capital will also be used to fund more acquisitions, development of new products, further strategic investments, and attainment of additional licenses for well-known intellectual properties.
Animoca Brands is the company behind blockchain games like F1® Delta Time, The Sandbox, and MotoGP™ Ignition. The company has also launched tokens alongside the aforementioned titles such as Ignition‘s REVV and Sandbox‘s SAND.
