• Loading stock data...
Sunday, July 14, 2024

Animoca Brands Raises $360M, Valued at $5.4B

  • Animoca Brands has raised $360 million.
  • The new funding values the investor in Fan Controlled Football and NBA Top Shot at $5.4 billion.
Animoca-Brands
Animoca Brands/Design: Alex Brooks

Software and venture firm Animoca Brands has raised $360 million in new funding, valuing the investor in Fan Controlled Football and NBA Top Shot at $5.4 billion. 

The round, led by Liberty City Ventures, will provide the Hong Kong-based company with fresh capital to build an open metaverse, fund strategic acquisitions, and secure licenses for popular IP. 

Animoca Brands has investments in more than 150 NFT, metaverse, and blockchain companies, having raised roughly $700 million in total capital. 

  • Last May, the company raised $88.8 million during a two-part funding round, valuing the business at around $1 billion.
  • It completed part two of the round last July, raising an additional $50 million from a group of investors including Samsung and mobile game developer Scopely. 
  • In October 2021, the company raised $65 million during a round, which included Sequoia Capital and French video game studio Ubisoft.
  • SoftBank Vision Fund 2 led a $93 million investment in the company and its mobile game brand The Sandbox last November. 

Work in Progress

Animoca Brands posted $141 million in bookings and income of $530 million in Q3 2021, while its digital reserves were valued at $16 billion at the end of November.

The company was delisted from the Australian Stock Exchange in March 2020 due to a breach in listing rules fueled by “involvement in cryptocurrency-related activities.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 13, 2024; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Emeka Egbuka (2) catches a pass for the scarlet team while defended by cornerback Jordan Hancock (7) of the grey team during the first half of the LifeSports Spring Game at Ohio Stadium on Saturday.

As NIL Turns Three, Collectives and Football Still Control the Industry

Collectives dominate NIL, and football makes up most of collective budgets.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
podcast thumbnail mobile
Front Office Sports Today

Warner Bros. Discovery Faces Final Decision on NBA Rights

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’