Animoca Firm Raised $75M To Advance Its Metaverse Dominance

Animoca gaming software firm recently concluded a series B rally where it reportedly amassed a huge fund of $75 million. The fund would be used for progressing and supporting the firm’s effort and mission in the virtual space.

Animoca Raised $75 Million Amidst Bearish Market

Before this recent rally, the game software manufacturer had earlier carried out a similar rally in January. It reportedly realized about the same amount it realized this time.

The firm announced the success of its recently concluded rally on July 15, this year. Interestingly, the firm beat all odds as it was able to raise such a whopping amount in a bearish market which many investors dreaded after losing their funds to it.

Following the lunch of the fundraising, many significant investors, both retail and institutional, participated actively in it. Some of them include Kingsway Capital, Generation Highway, and other big guns in the crypto industry.

Animoca brand has been planning to strengthen its hold in the metaverse via an improved investment and product development scheme. It also planned to obtain all necessary licenses needed to acquire and utilize the latest intellectual assets. The gaming software producer also aimed at offering online users virtual asset rights to promote the open metaverse. 

Animoca To Issue Digital Assets Rights In The Open Metaverse

According to reports, the brand is putting effort into integrating new features into its platform as it leverages blockchain technology. Some of the new components would enable the platform to issue digital ownership rights to users that possess digital assets. 

Also, the components would release GameFi activities like play to earn, and it would allow assets to interoperate. Additionally, Animoca reportedly planned to build a model that would balance participants’ rights and privileges in the virtual space. 

During an interview with a new source, Yat Siu, the co-owner of the gaming brand commented on the firm’s activity. He described digital assets right as a very pivotal instrument to the upcoming open metaverse. 

He added that it is an epic innovation that would benefit all online users in the metaverse space. He expressed that the firm is glad for the solid support it is receiving from its users. 

He concluded that the firm is bent on maintaining its focus on dominating the Web3, non-fungible token, and valid digital ownership industries. Meanwhile, Animoca has recently announced that it is about to introduce another collection of NFTs. 

The collection would be officially released on its Quidd marketplace by July 19. The upcoming launch is reportedly making rounds as it would be used to celebrate Animoca brand’s 40 years of being in the business.

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