Animoca Brands Hits $5.9B Valuation

Transcript

00:00Welcome back to Decentralized News. A quick news story. Animoca Brands is said to have hit a

00:055.9 billion dollar evaluation after having successfully completed another 75 million

00:14dollar funding round. And you know they did also kind of detail how they would use the funds

00:21saying that strategic acquisitions, investments and product developments are in the pipeline

00:26along with plans to also secure rights to popular intellectual properties. As you know if you know

00:33about what's going on in the NFT metaverse space you could tell that Animoca has been on a

00:40sort of a spree of buying up projects and funding these projects since last year even. It's obviously

00:50still a difficult time for many crypto companies to raise capital at the moment but

00:55this is one of those that are is seeming to continuously continue to grow announcing this

01:0275 million dollar funding round and this is obviously less than the 360 million raised back

01:09in January. The evaluation has now gone up to 5.9 billion. The company is the driving force behind

01:15the sandbox and also established some other web 3 investment portfolio with the likes of Axie

01:23Infinita, Splinterlands, Alien Worlds etc. And you know regarding the way they will spend their cash

01:30they are saying that they will use the new capital to continue to grow and fund these strategic

01:38investments and acquisitions and also to fund the product development and secure licenses for popular

01:44intellectual properties. Also you know looking to advance them into the open metaverse including

01:51through the efforts to promote digital rights for online users. Co-founder and chairman Ayat

01:57Seel said Animoca was honored that it has continued to enjoy the support from investors highlighting an

02:04ambition to cement its leadership position in the web 3 space. He also said that digital property rights

02:10represent a society defining generational shift and impacts everyone online and will set the stage for the

02:17dimensions of the open metaverse. And City Liberty Ventures which also participated in this funding

02:24round did say that over the next decade humanity will discover and embrace the game-changing power that

02:30blockchain-based digital ownership of assets will bring to countless aspects of our lives. The bullish tone is

02:37also surprisingly coming in a time where you know a lot of people are very skeptical about the markets at the

02:45moment. The Kingsway Capital CEO and founder also said that the genie of the property rights has also been

02:53left out of the bottle and let out of the bottle rather and internet users engaging in this revolutionary

02:59technology will not be able to return to the digital servitude that web 2.0 offers. The long-term growth

03:06trajectory of NFTs and similar ownership technologies is extraordinarily steep especially in emerging markets.

03:14So these guys are looking to make inroads in that space. Let me know what you think about this move

03:20by Animoca and if you think this is a good move for kind of just keeping the metaverse and the NFT

03:28and the space still functioning and development still growing and all these initiatives getting funded.

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