With an eye on the growing metaverse, the crypto gaming investor and publisher has more than doubled its valuation. 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?
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