The Japanese subsidiary of the blockchain-game operator Animoca Brands has raised $45 million from its parent company and one of the country’s oldest banks, Mitsubishi UFJ Financial Group, Inc.
We are pleased to announce that @Animocabrandskk, our Japanese subsidiary, today announced a raise of US$45M from @mufgbk_official and Animoca Brands Corporation Limited valuing the company at approximately US$500M (pre-money).
Continue reading: https://t.co/K90CUhPDyK pic.twitter.com/AXIlxgbqA6
— Animoca Brands (@animocabrands) August 26, 2022
The pre-money valuation of Animoca Brands Japan stood at $500 million. According to the statement, the funding was split evenly between the two investors.
The funds will be used to secure licenses for popular IP assets, develop internal capabilities, and promote Web3.
The Hong Kong firm is the publisher of a number of games such as The Sandbox, Crazy Kings and Crazy Defense Heroes, as well as IP-based digital products. Animoca Brands owns several subsidiaries, including Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Darewise, Notre Game and TinyTap.
The firm actively invests in Web3 projects. Its portfolio includes more than 340 positions, among which Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas and others.
In early 2022, Animoca Brands raised $358.9 million at a $5 billion valuation; in July — $75.32 million.
In spring the operator acquired the game developer Eden Games. The deal was worth $16 million.
Analysts at Messari and Dove Metrics estimated the volume of funding for blockchain startups for January–June 2022 at $30.3 billion. Of this amount, $6.7 billion went to NFT projects.
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