Animoca Brands Valuation More Than Doubles to $5.5B in Three Months

Animoca Brands Valuation More Than Doubles to .5B in Three Months
Animoca Brands, an investor in non-fungible token (NFT) and metaverse projects, raised almost $360 million at a valuation of $5.5 billion.The funding round represents a doubling in Animoca’s value in less than three months. The venture capital firm raised $65 million at a $2.2 billion valuation in October last year.Liberty City Ventures led the round, which included contributions from Winklevoss Capital, Soros Fund Management and 10T Holdings.Animoca plans to use the funds to fuel acquisitions and investments, product development and licenses for popular intellectual properties, according to an announcement Tuesday.The company’s portfolio contains more than 150 NFT-related projects including play-to-earn…