Animoca Brands To Raise Another $100M in New Funding Round

Temasek, Singapore’s state investment fund and one of the world’s biggest investors, is leading a $100 million funding round in Hong Kong based investor in non-fungible tokens (NFT) and blockchain gaming, Animoca Brands

According to a Bloomberg report on Monday that cites sources familiar with the matter, the investment will be in the form of convertible bonds.

Following a successful round in January where Animoca raised $360 million at company valuation of $5.5 billion, the firm was able to raise another $75 million in July to continue its expansion in the metaverse sector.

Animoca Brands has investments worth over $1.5 billion spread out over more than 340 investments. The firm is an early investor in Play-to-earn game hit Axie Infinity while also having invested in NFT marketplace OpenSea.

Temasek has been actively investing in the crypto industry. The sovereign wealth fund with a portfolio worth over $403 billion joined FTX.US $400 million Series A round in January. In February, it headed a $200 million round in liquidity provider Amber Group.