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Digestible news about the latest developments across the fields of NFT, blockchain and metaverse in China, delivered to you every week.
This week: China to create its own NFT industry based on state-backed blockchain infrastructure, Animoca Brands sees private valuation surge to $5 billion, the Communication University of China launches virtual campus in the metaverse, and more.
The Sandbox developer Animoca Brands sees private valuation surge to $5 billion amid metaverse frenzy
Hong Kong-based blockchain gaming company Animoca Brands saw its valuation soar to $5 billion on Tuesday as investors continue to bet on the potential of NFTs and the metaverse.
- Animoca Brands announced on Tuesday that it had completed a new fundraising round worth $358.89 million, bringing its private valuation to $5 billion.
- The lastest financing round was led by Liberty City Ventures, a New York-based seed investor focusing on technology, media, telecommunications (TMT) and commerce.
- Other investors include Seoul-based mutual fund Mirae Asset, Sequoia China, and crypto-focused firms such as 10T Holdings and Gemini Frontier Fund. Hong Kong-based Gobi Partners Greater Bay Area also took part in the round.
- Animoca Brands said that the proceeds will be used to continue funding strategic acquisitions and investments, product development and licences for popular intellectual properties.
- Animoca Brands has garnered increasing interest among investors…
