Despite the constant reminders that we’re living in a bear market, industry leading blockchain game developer and crypto venture capital firm Animoca Brands has raised $75 million in a recent funding round.
Investors involved in the round included the likes of Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, and Cosmic Summit Investments Limited.
As per the words of the round’s subsequent press release, the funds will be used to make new investments and acquisitions, as well as for securing licenses to popular IP and advancing the metaverse’s mainstream adoption even further.
Overall, the round boosts the company’s total valuation up to $5.9 billion. It also comes just seven months after it raised a whopping $359 million at the peak of the NFT bull market in January. At such time, the company was valued at $5 billion, which further means that it’s been able to increase its valuation by $900 despite the treacherous conditions of the last few months.