One of the Biggest Entertainment Companies Animoca Brands Increases Web3 Investments

One of the largest known entertainment companies and The Sandbox (SAND) the developer of the project Animoca Brands Corporation Limitedincreases its investments in the Web3 space. The company’s subsidiary in the Japanese market Animoca Brands Japancontinues to increase its Web3 investments. The company recently completed its financing round with Japan’s largest bank, MUFG Bank, and parent company Animoca Brands. It was announced that the amount of funds collected was 45 million dollars. The total valuation determined is $500 million.

The collected $45 million fund, NFT markets to be used for business development projects.

Animoca Brands received great appreciation from the industry with its investments in the internet and technology of the future. Animoca Brands; He has developed important projects for big brands such as Disney, MotoGP and Formula E.

The company has so far Web3cryptocurrencies, metaverse and NFT invested in more than 300 projects in their fields. Among the most recognizable projects are the NFT marketplace OpenSea, Metaverse-based games Axie Infinity, Alien Worlds, Star Atlas.

In Which Areas Will The Funds Be Used?

Animoca Brands announced the conclusion of its funding round to the media:

“Animoca Brands will use the completed $45 million in funding to explore new digital markets, secure new intellectual property, explore new crypto products, and invest in the Web3 ecosystem.”