As per the latest reports, one of the most prominent virtual property developing and non-fungible token gaming platforms “Animoca Brands” has made an exciting announcement. The firm has announced that it has successfully doubled its market capitalization.
According to Animoca Brands, it is currently inhabiting a market capitalization that is worth over $2.2 billion. The firm has managed to achieve this market capitalization after carrying out a successful funding round.
Animoca Brands has confirmed that from the funding round, it has successfully generated funds worth $65 million.
The firm has announced that it had targeted that it would achieve a market valuation of $2.2 billion once the particular funding round has been concluded. According to Animoca Brands, several major entities including the gaming industry participated in the funding round.
The major firms that participated in the funding round were Dragonfly Capital, Sequoia China, Liberty City Ventures, and the most honorable, Ubisoft Entertainment.
This goes to show that several major companies from different sectors have their confidence in the capabilities of Animoca Brands. However, not every mainstream or regulatory authority has adopted the same understanding of the brand.
It was back in March of 2020 when the Australian Securities Exchange (ASX) had completely shaken off the idea of Animoca Brands getting into cryptocurrencies. The ASX had not approved the idea of Animoca Brands’ involvement with the cryptocurrencies.
However, the recent funding round is a clear demonstration of how opposite the mainstream institutions are working compared to the ASX. Animoca Brands has now revealed that it will proceed with the launch of its new shares in the market.
The firm has revealed that it will be issuing a total of 43.8 million new shares into the market. According to Animoca Brands, each share would be priced at AU$2, which translates to $1.51 at the time of writing. The announcement in regards to the launch of the new shares was made by Animoca Brands on October 20, 2021.
According to reports, so far, Animoca Brands has successfully generated over $203.88 million from the funding rounds it has held in the year 2021 only. In the year 2021, the firm has managed to become a crypto-unicorn. This means that the firm has met and crossed the $1 billion market valuation in the crypto-sector. In the year 2021, the firm has reportedly carried out two funding rounds and has managed to hit one milestone after another.
Animoca Brands executives have revealed that the majority of the funds they have raised from the funding rounds would go towards developmental projects. They will be using the funds for the advancement of the interactive and metaverse content.