The Sandbox developer Animoca Brands closes latest $50 million funding round, valuing it at $1 billion

The Sandbox developer Animoca Brands, a Hong Kong-based creator of blockchain games and non-homogeneous tokens (NFTs), has raised $50 million as part of its latest funding round.

The new round brings the company’s most recent funding round to about $139 million and comes at a pre-investment valuation of $1 billion, the company said in a statement, including investors Blue Pool Capital, Coinbase Ventures, Liberty City Ventures and Samsung Ventures participated in the investment.

The round was last raised in May and was led by Kingsway Capital with participation from investors including Firecoin and HashKey Fintech Investment Fund.

A statement from the company said the new funds will be used to fund strategic investments and acquisitions, product development and licensing of popular intellectual property. Most recently, the company announced that it has signed with QPR Football Club as a co-brand to develop and launch NFT on its platform, and as part of its latest announcement, Animoca Brands said it will issue NFT to its investors and key partners to mark its market cap move into unicorn status.

Founded in 2014, Animoca Brands develops games such as The Sandbox and F1 Delta Time, where players can collect and trade NFTs on a blockchain-based platform. It was also an early investor in Dapper Labs, makers of CryptoKitties and NBA Top Shot. The company was delisted from the Australian Stock Exchange in March 2020.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-sandbox-developer-animoca-brands-closes-latest-50-million-funding-round-valuing-it-at-1-billion/
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