This Altcoin Owner Company Will Announce $100 Million Investment!

Gaming software and venture capital firm Animoca Brands, as well as distributor of The Sandbox (SAND) altcoin, will announce a new fundraising in the form of convertible bonds, according to a report by Bloomberg today.

The Sandbox (SAND) Altcoin Distributor Animoca Brands Allegedly Receives $100M Investment

In the news based on people with knowledge on the subject, cryptocurrency It is stated that the investment company has signed a $100 million deal with Singaporean Temasek.

Convertible bonds may or may not be converted to equity at a later date.

This method of fundraising is sometimes used when a company does not want to drop its own shares or is unable to raise equity.

The funds will add to the previous round announced in January, when Animoca raised $359 million. The altcoin company also raised $75 million in funding in July, raising its valuation to almost $6 billion.

A Temasek spokesperson said in a statement, “Due to its policy, Temasek does not comment on market speculations and rumors.”

Investors in the firm’s July round included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others. Liberty City Ventures spearheaded the round in January.

Animoca Brands has proven to be an important part of the crypto gaming and NFT industry by investing in more than 150 NFT and metaverse-related companies, including OpenSea, Dapper Labs, Yield Guild Games, and Axie Infinity.

This latest $100 million boost will bring Animoca Brands’ total funding to date to over $600 million. Its subsidiary The Sandbox altcoin also raised $93 million in the past few days.

*Not investment advice.