Dapper Labs Backer Animoca Scores $65M to Further Invest in the Metaverse

Hong Kong-based Animoca Brands, was an early investor in blue chip NFT projects such as Dapper Labs, OpenSea and Axie Infinity developer Sky Mavis.

article-image

Yat Siu

Co-founder, executive chairman, and managing director of Animoca Brands; Source: Animoca

share

key takeaways

  • Animoca previously raised roughly $139 million back in July, doubling its valuation in less than six months
  • Investors in the most recent capital raise include 10T Holdings, Dragonfly Capital and Ubisoft Entertainment

Animoca Brands, a metaverse proponent and early investor of decentralized gaming, raised a whopping $65 million in funding, the company announced on Wednesday. The Hong Kong-based firm said in a press release that the capital will go toward “strategic investments,  product development and licenses for popular intellectual properties.”

The company was an early investor in blue chip NFT projects such as OpenSea, Dapper Labs and Axie Infinity developer Sky Mavis.

“In 2018 we laid out a strategy based on our assessment that in the future digital property rights would revolutionize industries by expanding financial inclusion, and that this significant change would start with NFT adoption in games,” Yat Siu, Co-founder of Animoca Brands, said. “That future is already here.”

The Animoca Brands team in Hong Kong
The Animoca Brands team in Hong Kong

Investors in the round include 10T Holdings, Dragonfly Capital, Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Com2uS, Kingsway Capital, MSA Capital and others. Previously, Animoca pulled in a $139 million funding round in July, doubling its valuation to $2.2 billion since. 

“Animoca Brands will continue to advance blockchain in gaming — and beyond — to introduce billions of gamers and internet users to true digital ownership,” Siu added.

The funding news comes as money continues to pour into NFT-investing platforms. 

Galaxy Interactive, an affiliate of Galaxy Digital, raised $325 million for its venture capital fund dedicated to interactive gaming and NFTs on Tuesday. Dapper Labs and Axie Infinity developer Sky Mavis landed a combined $402 million in capital since September as well.

MSA Capital, a participant in Animoca’s funding round, said that “crypto not only provides novel in-game monetization but also precipitates new systems for digital rights, begetting NFTs and metaverses,” a spokesperson added.

This story was updated on October 21, 2021, at 9:43 am ET. A previous version of the article misreported the funding amount at $85 million.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Flashnote Template Presentation (2).jpg

Research

With the recent election, it’s clear that there will be a meaningful shift in crypto regulations and legislation. Trump is likely as pro-crypto as a president can be. He launched (multiple) of his own NFT collections and is launching an Aave wrapper called World Liberty Fi. He has also spoken out and mentioned that he wants to make the United States "the crypto capital of the planet" and transform it into the "Bitcoin superpower of the world". He proposed creating a strategic national Bitcoin stockpile alongside support from Senator Cynthia Lummis, promising to retain 100% of all Bitcoin held by the U.S. government. More importantly, we’re likely to see deregulation across the board in a lot of industries, with crypto being one of them - as Trump has committed to keeping the crypto market largely unregulated. Crypto, DeFi in particular, has historically been knee-capped by overreaching and hostile governmental agencies and regulation by enforcement, as evidenced by the plethora of Wells notices and lawsuits over the past few years. With Donald Trump winning the presidency, Republicans taking control of the Senate, and being on the verge of securing the House, we think it’s likely that crypto realizes positive regulatory clarity. Below, you can find our analysts’ takes:

article-image

Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times

article-image

Of course, a lot has happened since the 600+ survey respondents shared their thoughts between Aug. 15 and Oct. 1

article-image

AI’s future shouldn’t be decided by a handful of tech giants

article-image

A look at software wallet Exodus may show how an SEC shakeup could have a real impact on industry companies

article-image

Co-chairing Trump’s transition team to help fill administration positions is Cantor Fitzgerald CEO Howard Lutnick

article-image

Reflect is a delta-neutral currency protocol that lets tokens accrue yield without touching the banking system