Animoca Brands Valuation More Than Doubles to $5.5B in Three Months

Animoca Brands, an investor in non-fungible token (NFT) and metaverse projects, raised almost $360 million at a valuation of $5.5 billion.

• The funding round represents a doubling in Animoca's value in less than three months. The venture capital firm raised $65 million at a $2.2 billion valuation in October.
• Liberty City Ventures led the latest fundraising round, which included contributions from Winklevoss Capital, Soros Fund Management and 10T Holdings.
• Animoca plans to use the funds to fuel acquisitions and investments, product development and licenses for popular intellectual properties, according to an announcement Tuesday.
• The company's portfolio contains more than 150 NFT-related projects, including play-to-earn game Axie Infinity, Dapper Labs, the company behind NBA Top Shot, and OpenSea, the largest NFT trading platform. It also has a majority stake in metaverse game The Sandbox.
• Most recently, Animoca led an $8 million funding round into Burnt Finance, an NFT platform built on the Solana blockchain.

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