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Animoca Brands Raises $65M at $2.2B Valuation from Ubisoft, Sequoia China, Dragonfly Capital

By Shiela Bertillo

Animoca Brands, a global developer leveraging blockchain and non fungible token  (NFT), announced yesterday, October 20, that it has successfully raised $65 million capital at a pre-money valuation of US$2.2 billion.

The seed funding round includes investors such as Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Octava Fund, Adit Ventures, Summer Capital, Sigitech Holdings, Black Anthem Ltd, Mirana Corp, and Justin Sun.

According to the firm, the new capital will be utilized to fund strategic investments and acquisitions, product development, and licenses for popular intellectual properties of its products.

Last July, Animoca Brands raised $138.88 million for its plan to deliver digital property rights via NFTs.

“In 2018 we laid out a strategy based on our assessment that in the future digital property rights would revolutionize industries by expanding financial inclusion, and that this significant change would start with NFT adoption in games. That future is already here. With the backing of our new strategic investors, Animoca Brands will continue to advance blockchain in gaming – and beyond – to introduce billions of gamers and Internet users to true digital ownership.” Animoca Brands CEO Yat Sui said in a statement.

Animoca Brands and its dependents offer an extensive index of centralized and decentralized game products covering a variety of platforms including mobile devices, game consoles, PC, web, and blockchain. Its long list of subsidiaries includes The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, and Lympo.

REVV Racing, F1® Delta Time, MotoGP™ Ignition, and Formula E: High Voltage in the REVV token ecosystem are included in their blockchain game projects portfolio. Moreover, The Sandbox and its associated utility token SAND, and the GAMEE, TOWER, and LMT tokens are also under the firm.

Recently, Animoca Brands, in partnership with Brinc, launched Launchpad Luna, an accelerator for global startups in the blockchain and NFT space.

“I believe that the gaming, art, and music industries are entering a digital renaissance period uniquely enabled by blockchain. Yat and his team have demonstrated vision and foresight from the beginning and we are therefore excited to partner with Animoca Brands to build some of the largest on-ramps of the virtual world.” Mia Deng, partner at Dragonfly Capital, stated.

Joseph Chee, founder and chairman of Summer Capital, stated that he believes their investment along with other brands to Animoca Brands will “mark the acceleration of a new era.”

“Animoca Brands has been a pioneer in this burgeoning space and we believe this team has the right skill set and tools to usher in this new digital world,”a spokesperson for MSA Capital commented

Lucy Gazmararian, founder and general partner of Token Bay Capital, noted that Animoca Brands is “at the forefront of the blockchain gaming revolution, pioneering the next generation gaming experience where gaming, digital property rights and digital economies intersect to create new ecosystems which empower individual users like never before.”

Currently, Animoca Brands is still growing its portfolio of more than 100 investments in some of the world’s most meaningful NFT-related companies, including OpenSea, Dapper Labs, Bitski, Star Atlas, and Axie Infinity.

This article is published on BitPinas: Animoca Brands Raises $65M at $2.2B Valuation from Ubisoft, Sequoia China, Dragonfly Capital

The post Animoca Brands Raises $65M at $2.2B Valuation from Ubisoft, Sequoia China, Dragonfly Capital appeared first on BitPinas.

Floki Inu integrates Chainlink price feeds to venture into DeFi

Floki Inu has become one of the most popular meme tokens in the market because of its development team’s efforts. After strong marketing tactics that have soared the token’s popularity in the market, Floki Inu is now looking towards decentralized finance (DeFi). Floki Inu is a mimic of Dogecoin and the Shiba Inu cryptocurrency. It::Listen

Floki Inu has become one of the most popular meme tokens in the market because of its development team’s efforts. After strong marketing tactics that have soared the token’s popularity in the market, Floki Inu is now looking towards decentralized finance (DeFi).

Floki Inu is a mimic of Dogecoin and the Shiba Inu cryptocurrency. It derives its name from Elon Musk’s Shiba Inu dog, which he named Floki.

Floki Inu moves towards DeFi

The Floki Inu team took to Twitter to state that its network had integrated Chainlink as it looked towards venturing into the DeFi sector. The team also shared a link to a blog post explaining this integration and its DeFi ambitions.

The team shared the link to its blog post on Twitter, which stated that Chainlink price feeds have been added to the Floki Inu network.

Chainlink price feeds are a common feature used by DeFi developers because it helps in tracking the real-time market prices, which creates convenience in developing on the network. These price feeds have been integrated by top blockchain networks such as Solana.

Floki Inu also added that the Oracle Network would also be a part of this project. The Oracle Network is a leading decentralized protocol that will help Floki Inu launch the DeFi network.

The Floki Inu team further states that “Part of our strategic plan for ensuring utility and wide appeal involves providing DeFi access to FLOKI users. This will be done through smarty, strategic partnerships with key industry players as well as the eventual launch of our own DeFi products as we develop the FLOKI ecosystem.”

The rise of Floki Inu

As aforementioned, the growth of Floki Inu has been attributed to the efforts that the token’s development team. One of the areas where this team has invested heavily is in marketing. The Floki Inu token is now a popular meme token because of the rigorous marketing tactics.

The Floki Inu team made a bold move by running an ad on London’s public transport system. However, this ad was taken down because of regulatory concerns.

On December 3, FLOKI appeared in an ad on Burj Khalifa, the world’s tallest and most popular skyscraper in Dubai. This created a niche for the token in the Middle East market.

Your capital is at risk.

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Animoca Brands Raises $65M at $2.2B Valuation from Ubisoft, Sequoia China, Dragonfly Capital

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