Animoca Brands has raised $88,888,888 to Create blockchain Games and develop gaming NFTs

A new “unicorn” has appeared on the NFT gaming market – Animoca Brands, which today specializes in blockchain games and the release of its own tokens. The Hong Kong-based company has attracted investments of $88 million, based on an estimate of $1 billion.Animoca Brands announced this today on its official website.

It was possible to raise funds thanks to the issue of 93.4 million new shares. Investors in the round were Kingsway Capital, RIT Capital Partners, AppWorks Fund, LCV Fund and other funds.

CEO of Yat Siu noted in an interview with GamesBeat that the funds raised will be used for M&A transactions, strategic investments, expansion of staff, purchase of licenses for popular IP and development of new products.

Animoca Brands was founded in 2014 and initially specialized in the development and publication of regular games. However, in recent years, the company has begun to develop in the field of blockchain.

Among the most famous blockchain titles of the company are F1 Delta Time and The Sandbox. In them, users can earn and buy racing cars in the form of NFT or, for example, sell virtual land to other players.

Animoca Brands regularly issues its own tokens, the total value of which is estimated at billions of dollars. The company believes that this is a great way to monetize the game. Animoca Brands also invests in other blockchain startups, including OpenSea, Sky Mavis and Dapper Labs, the creators of CryptoKitties and NBA Top Shot.

“Digital property is the paradigm shift that the industry needed. Venture capital firms are actively investing in this area, which is increasingly becoming mainstream,” Siu believes.