Animoca Brands to strengthen their company amidst Crypto Downfall.
In this blog, we will get to know how Animoca Brands got a funding of $110 million, and what is their vision.
Things are looking up for crypto gaming, and crypto gaming developers even. With a surge in such companies, there seems to be more and more investors interested in this aspect. Everyone wants to make some good profit, and right now, crypto seems to be the hub. For the gaming world, crypto gaming has definitely been a boost to the gaming world in general. One such crypto gaming developer, Animoca Brands, has recently been in the news for its impressive funding round. In this blog, we will be talking about all the details and what they are going to do with all the funding.
What is Animoca Brands?
For those who do not know what is happening. Well, Animoca Brands is basically a crypto gaming company. They are responsible for coming up with various blockchain and crypto games that are usually used to deal in cryptocurrencies and also include NFTs and such things. While most crypto companies are quite popular right now, Animoca stands out because of its wide array of games and also branches that are spread throughout the gaming world. Hence, it was no surprise when we heard that Animoca Brand had managed to raise so much for its funding. A company as big as theirs is definitely going to come up with something massive for its audience.
How much did Animoca Brands get and why?
For their recent funding, Animoca Brands has come up with some $110 million! This is a huge investment, and they are planning to put the money to good use. This time they have got some good funding from all the well-known companies like Temasek, CGV Capital, Boyu Capital, etc. All of them are extremely big firms or companies in Asian countries. Animoca had said that they had asked for their funding and also wanted to share their strategy with them. All these companies have grown from scratch over time, and Animoca feels that it is time to start with the growth of the company.
Animoca Brands has tons of companies under them, and they need to fund them too for proper functioning. Hence, they will need to fund these other companies to bring them together to build their own metaverse. This is the sole reason why they want all these big companies to help them with advice and strategies so that they can maintain their own brand.
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Is Crypto Gaming Going Down?
Recently, there have been talks about cryptocurrencies going down, and there is no signs of it going up again. Among all these news people have been wondering if it was worth it to invest in crypto gaming. Though Animoca Brands has not said anything on this matter, it is pretty clear that they are still going to go on with their project. Hence, it would be advisable not to give up all hope yet.
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Manish Gupta
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