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Animoca Brands raises $50 million from investors such as Scopely and Samsung

Blockchain game funding is booming
Animoca Brands raises $50 million from investors such as Scopely and Samsung
Date Type Companies Involved Size
Jul 1, 2021 investment Animoca Brands Razer Samsung Scopely $50m
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Blockchain gaming outfit Animoca Brands has announced another $50 million of funding.

Nothing highlights the velocity of an investment opportunity than a company having to reopen a closed funding round because of additional interest, and that's what exactly happened here.

This follows the company's 'meme round' of $88,888,888 from May this year, which valued the company at $1 billion, with this latest funding also set at the same valuation.

Investors in this second tranche included mobile game developer Scopely, the corporate venture arm of Razer (ZVentures) as well as VCs such as Blue Pool Capital, Coinbase Ventures, Samsung Venture Investment Corporation and Korea Investment Partners.

Buying into a portfolio

"We are honoured and excited to welcome strategic investors who offer powerful synergy and partnership opportunities," said Animoca Brands chairman Yat Siu

"The strong demand we saw in this raise is a clear endorsement for Animoca Brands’ mission to deliver digital property rights to gamers and build the Metaverse."

Scopely chief revenue officer Tim O'Brien added: "Animoca Brands is on the forefront of blockchain gaming and a true thought leader in the space. Its impressive investment and crypto portfolio, along with its broad range of products, highlights a commitment to providing players a new asset class with sought-after play-to-earn economies." 

In addition to its own games such as F1 Delta Time, The Sandbox and MotoGP Ignition, Animoca Brands has invested in a wide portfolio of blockchain games and entertainment projects. This includes Dapper Labs, Sky Maxis (Axie Infinity) and the OpenSea marketplace.

In this manner, investing in Animoca Brands is an investment into the success of the wider blockchain gaming sector.

Back in October 2020, it was Scopely that was raising investment with a Series E round worth $340 million.