Not that it’s overly concerned about symbolism, but Hong Kong-based blockchain games company Animoca Brands has closed a new fund raise worth $88,888,888

This has been accomplished via the issuing of 93.4 million new shares, priced at $0.85, valuing the company at $1 billion.

Investors included Kingsway Capital, RIT Capital Partners, HashKey Fintech Investment Fund, AppWorks Fund and LCV Fund.

Crypto exchange Huobi and NFT whale Metapurse also participated.

More, faster

Calling the raise a “strategic milestone”, Animoca said it’s now positioned for “further aggressive growth” in the blockchain game and NFT sectors.

Already an investor in leading blockchain games projects such as Axie Infinity and Sorare, the funds will be used to

• fund further acquisitions,
• develop new products,
• continue to make strategic investments, and
• secure additional IP licenses

“We are deeply honoured to have secured Kingsway, RIT, Hashkey, Huobi, Ellerston, Perennial and other strategic investors who share our vision for NFTs redefining equity and property rights online,” commented Animoca chairman Yat Siu.

“This strategic capital raise firmly establishes Animoca Brands as one of the leading and most valuable companies in the NFT space, not just in Asia but globally.”