Animoca Brands to Raise Another $100M

Singapore government investment manager Temasek is reportedly joining a $100 million funding for blockchain investor Animoca Brands, adding to the nearly $435 million Animoca has raised since January.

Temasek will lead the financing, which adds to a funding round that has already seen Animoca raise $359 million in January and another $75 million earlier this summer, according to a Bloomberg report that cites unnamed sources.

Temasek invests in service providers in the crypto space, rather than investing in crypto itself, and Animoca has bought stakes in 340 finance, gaming and social media companies over the last five years and continues to do so during the crypto downturn, according to the report.

Once a small mobile game publisher, Animoca is now Asia’s biggest blockchain investor and its core business is selling crypto tokens, per the report.

As Reuters reported Jan. 18, early in the funding round, Animoca Brands said it would use the money raised at that time for acquisitions and investments and to develop products and purchase intellectual property licenses.

See also: Metaverse Gaming Firm Animoca Raises $360M

“Animoca Brands has built and developed leading brands in the decentralized gaming and metaverse space,” Tyler Winklevoss, founder of Winklevoss Capital and Gemini, which participated in the funding round, said at the time, per the report. “We have tremendous conviction in its vision and are excited to support its mission.”

As PYMNTS noted Aug. 18, Animoca Brands was an early investor in CryptoKitties, the game that first brought non-fungible tokens (NFTs) to the attention of the general public, and Animoca has expanded significantly since then.

Read more: Showbiz, Gaming Execs Try to Monetize New NFT Use Cases

The company is now the largest investor in blockchain projects in Asia, according to Bloomberg, and one of those projects is Axie Infinity, a “play-to-earn” crypto game that is far and away the most successful NFT project of any kind, according to DappRadar.

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