Animoca Brands, which invests in non-fungible token (NFT) and metaverse areas, has received another $75 million in funding.
Animoca Brands received approximately $360 million in funding in January of this year, doubling its value in three months, reaching a valuation of $5.5 billion. This new funding from a group of investors including Liberty City Ventures, 10T and Kingsway puts the company's value at $5.9 billion.
Animoca Brands will use the new funding it receives to fund acquisitions and new investments, advance product development and license some popular intellectual property.
Animoca Brands' current portfolio includes more than 150 projects operating in the field of NFT. These include Axie Infinity, NBA Top Shot developer Dapper Labs, and OpenSea, among others. The company also has a stake in popular metaverse games, The Sandbox.
Sandbox Collaborates with South Korean Giant Bank!
Metaverse has proven to be a diverse opportunity for financial institutions. The Sandbox (SAND) altcoin announced that KEB Hana Bank will enter the virtual digital world in its own universe.
Hana Bank offers the widest variety of foreign exchange products in South Korea. The banking institution will seek to expand its services on the Metaverse. However, both partners plan to launch a different type of event marketing. According to reports, Hana signed a memorandum of understanding with the blockchain-based metaverse platform. The bank plans to enter projects managed by Sandbox as a global partner.
Collaboration will include building a business model. The bank will open a virtual branch in the digital world to provide basic services and seize advertising opportunities. Hana Financial Group will also be posting Korean-related content on the K-verse. It will be a virtual zone for Generation Z to learn more about Korean culture. Hana Bank Vice President So Jung Kim said that this partnership will open the doors to a new type of service for young users.