Animoca Brands could be one of the biggest winners of the rising NFT market, placing early bets on Dapper Labs, OpenSea, and Axie Infinity creator Sky Mavis before each firm saw surging success. Now, Animoca has more than doubled its own valuation with a new funding round just months after the last one.
Today, the Hong Kong-based firm announced a new $65 million funding round that values it at $2.2 billion—a sharp increase from the $1 billion valuation when the company last raised money in July. Earlier this year, Animoca pulled in $138.88 million across two funding tranches from investors including Coinbase Ventures and Samsung. Why raise more money now?
Yat Siu, executive chairman of Animoca Brands, told Decrypt that it wasn’t about the money. The firm saw additional interest from prospective investors who didn’t realize Animoca was raising funds, he said, and Animoca saw an opportunity to forge alliances with major players in the traditional gaming space—such as Ubisoft and
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