ANIMOCA BRANDS RAISES $75M TO ADVANCE OPEN METAVERSE CONCEPT

Imagine a world where your digital assets truly belong to you, where you can seamlessly move your avatars, items, and experiences between different virtual worlds.That's the promise of the open metaverse, and Animoca Brands, a leading force in blockchain gaming and venture capital, is doubling down on its commitment to making that vision a reality.They've just announced a fresh infusion of $75.32 million in funding, a testament to their continued success and the growing belief in the potential of a decentralized, user-owned internet. Animoca Brands raises $75M to advance open metaverse concept. Animoca Brands raises $75M to advance open metaverse conceptThis new capital will fuel strategic acquisitions, product development, and the securing of intellectual property licenses, all aimed at accelerating the development and adoption of the open metaverse concept. Animoca Brands raises $75M to advance open metaverse concept The parent company behind The Sandbox has played a leading role in advancing metaverse technology. business newsBased in Hong Kong, Animoca Brands has already established itself as a key player, backing prominent Web3 games like Axie Infinity and The Sandbox. Leading Web3 game developer Animoca Brands has announced a $75 million capital raise as it looks to promote projects building towards an open metaverse.This funding round solidifies their position and empowers them to further innovate in decentralized in-game rewards and monetization, ultimately creating a more equitable and engaging online experience for users. Animoca said the new capital will fund strategic acquisitions, product development and intellectual property licenses as it looks to advance the so-called open metaverse concept. The company said it plans to continue using blockchain technology, including nonfungible tokens (NFTs), decentralized finance and GameFi, to promote digitalThe round values the company at a pre-money valuation of $5.9 billion, highlighting investor confidence in Animoca’s ambitious goals.

What is the Open Metaverse and Why is Animoca Brands Investing in It?

The ""metaverse"" has become a buzzword, often used to describe various virtual and augmented reality experiences.However, Animoca Brands is specifically focused on building an open metaverse, a concept that differs significantly from the walled-garden approaches of traditional tech companies.What exactly does that mean?

An open metaverse prioritizes:

• Digital Ownership: Users truly own their digital assets, represented by non-fungible tokens (NFTs), and have the freedom to use and trade them as they see fit.
• Interoperability: Assets and identities can seamlessly move between different virtual worlds and platforms.
• Decentralization: Power and control are distributed among users, rather than concentrated in the hands of a few corporations.
• User-Generated Content: The metaverse is built and shaped by its users, fostering creativity and innovation.

Animoca Brands believes that the open metaverse is the future of the internet, offering a more empowering and engaging experience for users. Investor in non-fungible tokens (NFT) and blockchain gaming, Animoca Brands has ended another strategic funding round, bringing in new capital to continue its expansion in the metaverse sector. The Hongkong based company on Tuesday announced the closing of a $75.32 million funding round at a pre-money valuation of $5.9 billion.By investing in this concept, they aim to:

• Empower users with true digital ownership.
• Create a more decentralized and equitable online ecosystem.
• Foster innovation and creativity in the virtual world.
• Build a more immersive and engaging online experience.

How Will Animoca Brands Use the $75M Funding?

The $75.32 million in funding will be strategically deployed across several key areas to further Animoca Brands' mission of advancing the open metaverse. Animoca Brands raises $75M to advance open metaverse conceptSource: CointelegraphPublished onThese areas include:

Strategic Acquisitions

Animoca Brands has a proven track record of acquiring promising companies and technologies that align with their vision. The company behind The Sandbox continues to attract sizable investments as it eyes new acquisitions in the play-to-earn and metaverse sectors. Blockchain gaming and venture studio Animoca Brands has closed another strategic funding round, giving the company additional resources to expand its acquisition targets in the metaverse sector. The company announced Tuesday that it has [ ]This new funding will allow them to continue to identify and acquire strategic assets in the play-to-earn, metaverse, and Web3 spaces. Amioca picks another $75 million in its latest funding round. The funds are aimed to invest in additional resources to advance in the 'open metaverse'. Blockchain gaming and venture studio Animoca Brands has closed another strategic funding round, giving the company additional resources to expand its acquisition targets in the metaverse sector.These acquisitions could include companies developing:

• New metaverse platforms
• Advanced NFT technologies
• Innovative GameFi models
• Tools for creating and managing digital assets

By acquiring these companies, Animoca Brands can expand its ecosystem, integrate new technologies, and accelerate the development of the open metaverse.

Product Development

A significant portion of the funding will be dedicated to developing new products and services that enhance the user experience in the metaverse.This includes:

• Improving the functionality and accessibility of existing platforms like The Sandbox.
• Developing new tools and infrastructure for creating, managing, and trading digital assets.
• Building new metaverse experiences that leverage blockchain technology and NFTs.
• Creating new ways for users to earn and monetize their contributions to the metaverse.

Animoca Brands understands that a user-friendly and engaging metaverse is crucial for widespread adoption. SANDUSD Sandbox Animoca Brands raises $75M to advance open metaverse conceptThey are committed to investing in the development of innovative products that make the metaverse accessible and rewarding for everyone.

Securing Intellectual Property Licenses

Intellectual property (IP) is a valuable asset in the metaverse, and Animoca Brands recognizes the importance of securing licenses for popular brands and franchises. Blockchain gaming and enterprise studio Animoca Manufacturers has closed one other strategic funding spherical, giving the corporate further assets to broadenThis funding will enable them to acquire licenses for:

• Popular video game characters and worlds
• Iconic movie and television franchises
• Famous sports teams and athletes
• Recognizable brands and logos

By incorporating these recognizable IPs into the metaverse, Animoca Brands can attract new users, create engaging experiences, and drive adoption of blockchain technology and NFTs. Prominent crypto investor Multicoin Capital has launched a new venture fund valued at $430 million, further demonstrating venture capital s growing interest in the blockchain economy. MulticoinImagine playing a game in The Sandbox featuring characters from your favorite movie – that's the kind of experience Animoca Brands aims to create.

Promoting Digital Property Rights

At the heart of the open metaverse concept lies the idea of digital property rights. Animoca Brands has just raised another 75 million dollars to advance their vision toward an open metaverse concept. What do you think they will do with the mAnimoca Brands is a strong advocate for user ownership and control of their digital assets. Animoca said the new capital will fund strategic acquisitions, product development and intellectual property licenses as it looks to advance the so-called open metaverse concept.They will use this funding to further promote digital property rights by:

• Educating users about the benefits of owning their digital assets.
• Supporting initiatives that advocate for digital property rights.
• Developing tools and technologies that empower users to manage and protect their digital assets.
• Collaborating with other companies and organizations to create a more equitable and decentralized online ecosystem.

Animoca Brands believes that digital property rights are essential for building a truly open and empowering metaverse.

Animoca Brands' Track Record: A Look at Past Successes

Animoca Brands isn't new to the Web3 space.They've been instrumental in the growth of several successful blockchain-based projects.Here are a few notable examples:

• Axie Infinity: Animoca Brands was an early investor in Sky Mavis, the company behind Axie Infinity, one of the first and most successful play-to-earn games.
• The Sandbox: Animoca Brands acquired The Sandbox, a user-generated content platform that allows players to create, own, and monetize their gaming experiences.

These successes demonstrate Animoca Brands' ability to identify and support promising projects in the Web3 space.Their experience and expertise will be invaluable as they continue to build the open metaverse.

The Future of the Metaverse: What's Next?

The metaverse is still in its early stages of development, but its potential is enormous.As technology continues to evolve and adoption increases, we can expect to see the metaverse become an increasingly integral part of our lives.Here are some potential future developments:

• Increased Interoperability: We'll see greater integration between different metaverse platforms, allowing users to seamlessly move their assets and identities between virtual worlds.
• Improved Graphics and Performance: Advances in hardware and software will lead to more realistic and immersive metaverse experiences.
• Wider Adoption of NFTs: NFTs will become more widely used as a way to represent ownership of digital assets in the metaverse.
• New Metaverse Use Cases: We'll see the metaverse being used for a wider range of activities, including education, entertainment, commerce, and social interaction.

Animoca Brands is committed to being at the forefront of these developments, shaping the future of the metaverse and building a more open, equitable, and engaging online world.

Why is the Open Metaverse Important for Users?

The shift towards an open metaverse offers significant benefits for users compared to the more closed, centralized systems currently dominating the online landscape. Animoca Brands, the Hong Kong-based company advancing digital property rights for gaming and the open metaverse, announced Tuesday that it has completed a capital raise of $75.32 million. Investors in the round included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others.These benefits include:

• True Digital Ownership: In the current web, users often ""rent"" access to digital assets, with platforms retaining ultimate control. Animoca Brands raises $75M to advance open metaverse concept Copy Link. Cointelegraph Subscribe. Collect. Share. WeChat. Share With FriendsThe open metaverse, enabled by NFTs, allows users to truly own their digital assets, giving them the freedom to use, trade, and sell them as they see fit.This empowers users and gives them a greater stake in the virtual world.
• Enhanced Creativity and Innovation: With user-generated content at its core, the open metaverse fosters a more creative and innovative environment. Animoca Brands will use the new capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.Users can build their own experiences, create their own assets, and contribute to the overall development of the metaverse.This decentralized approach leads to a more diverse and dynamic virtual world.
• New Economic Opportunities: The play-to-earn model, pioneered by games like Axie Infinity, allows users to earn real-world income by participating in the metaverse.This creates new economic opportunities for individuals and communities, particularly in developing countries.
• Greater Privacy and Security: Decentralized systems can offer greater privacy and security compared to centralized platforms, where user data is often vulnerable to breaches and misuse.
• Resistance to Censorship: In a decentralized metaverse, no single entity controls the flow of information.This makes it more resistant to censorship and allows for a more open and free exchange of ideas.

What are the Challenges in Building an Open Metaverse?

While the open metaverse offers significant promise, there are also several challenges that need to be addressed in order to make it a reality. Animoca Brands said it will use the capital to fund acquisitions, investments and product development as well as secure licenses for popular intellectual properties and advance the openSome of these challenges include:

• Scalability: Blockchain technology needs to be scaled to handle the massive transaction volumes that will be required by a fully functional metaverse.
• Interoperability: Creating seamless interoperability between different metaverse platforms and assets is a complex technical challenge.
• User Experience: The metaverse needs to be user-friendly and accessible to a wide range of users, not just tech enthusiasts.
• Security: Protecting users and their assets from fraud and hacking is crucial for building trust in the metaverse.
• Regulation: The legal and regulatory landscape surrounding the metaverse is still evolving, and clear rules and guidelines are needed to protect users and ensure fair competition.

Animoca Brands is actively working to address these challenges and contribute to the development of a robust and sustainable open metaverse ecosystem.

The Investors: Who's Backing Animoca Brands?

The $75.32 million funding round saw participation from a diverse group of investors, demonstrating broad confidence in Animoca Brands' vision and potential. Learn about Animoca Brands' successful capital raise of $75 million to advance the vision of an open metaverse. Stay updated with the latest NFT news and insights.Key investors included:

• Liberty City Ventures
• Kingsway Capital
• Alpha Wave Ventures
• 10T
• SG Spring Limited Partnership Fund
• Generation Highway Ltd
• Cosmic Summit Investments Limited

The backing of these prominent venture capital firms and investment funds further solidifies Animoca Brands' position as a leading player in the Web3 and metaverse space.

Animoca Brands' Valuation: A Sign of Growth

The latest funding round values Animoca Brands at a pre-money valuation of $5.9 billion. Animoca Brands Hits $5.9 BILLION Valuation with New $75M Funding Round How Cash Will Be UsedThis impressive valuation reflects the company's significant growth and success in recent years, as well as the increasing investor interest in the metaverse and Web3.

The valuation serves as a testament to Animoca Brands' strategic vision, its strong track record of investments, and its commitment to building a more open and equitable online world.It also underscores the growing recognition of the potential of blockchain technology and NFTs to transform the internet.

Conclusion: Key Takeaways and the Future of the Open Metaverse

Animoca Brands' successful $75 million funding round is a significant milestone in the development of the open metaverse concept. Animoca Brands raises $75M to advance open metaverse concept Coin SurgesThe company is well-positioned to continue to lead the way in building a more decentralized, user-owned, and engaging online world.

Here are some key takeaways from this announcement:

• Animoca Brands is committed to building an open metaverse that prioritizes digital ownership, interoperability, and decentralization.
• The $75 million in funding will be used to fuel strategic acquisitions, product development, securing intellectual property licenses, and promoting digital property rights.
• Animoca Brands has a proven track record of success in the Web3 space, with investments in prominent projects like Axie Infinity and The Sandbox.
• The metaverse is still in its early stages of development, but its potential is enormous.
• The shift towards an open metaverse offers significant benefits for users, including true digital ownership, enhanced creativity, and new economic opportunities.

As Animoca Brands continues to innovate and invest in the open metaverse, we can expect to see even more exciting developments in the years to come.The future of the internet is decentralized, user-owned, and built on blockchain technology, and Animoca Brands is playing a key role in making that future a reality.Keep an eye on Animoca Brands – they are shaping the future of how we interact with the digital world. Blockchain gaming and enterprise studio Animoca Manufacturers has closed one other strategic funding spherical, giving the corporate extra assets to broadenWhat will they do next? Known as a backer of some of the most popular Web3.0 gaming protocols, including Axie Infinity, and The Sandbox, Animoca Brands said it is still spearheading and innovating decentralized in-game rewards and monetization in video games for the emerging open metaverse.Only time will tell, but it’s sure to be innovative.If you are interested in the metaverse, follow Animoca Brands's developments to stay informed on the open metaverse's evolution.