The NFT market is growing fast, and there are some really amazing nfts meaning
pieces out there. Many are limited edition, and are only released in 25 or 50 copies. This makes owning an NFT almost like owning a unique piece of art. In fact, NFTs have been sold at auction houses like Sotheby's alongside other mainstream works of art.
A new round of funding from Liberty City Ventures values Animoca Brands at more than $5 billion. Animoca Brands, an Australian company with a Hong Kong headquarters, invests in virtual worlds based on blockchain technology. In these environments, non-fungible tokens are used to purchase assets like land and avatars. Users can then walk around in their avatars, meet friends and play games.
Siu moved to Hong Kong in the early 1990s and began investing in the mobile game industry. In the early 2010s, he was struck by the "NFT bug." In 2017, he "went all in" for the NFT space after CryptoKitties' success. He made investments in OpenSea, the largest NFT marketplace, and in Sky Mavis, parent company of Axie Infinity. Animoca Brands also acquired The Sandbox, an NFT-based metaverse game. Its diversified portfolio now includes alliances with Adidas and Snoop Dogg, as well as projects that are focused on crypto gaming.
Animoca Brands Japan, a subsidiary of the Hong Kong-based blockchain game developer, raised $45 million. The investment raised its pre-money valuation to $500 million. Animoca Brands Japan received equal investments from its parent company Animoca Brands and MUFG Bank, a subsidiary of the Mitsubishi UFJ Financial Group.
Animoca Brands has been acquiring companies with NFT and blockchain experience. The companies include Bondly, which created early NFTs for celebrities. Another company, Lympo, uses blockchain technology for fitness rewards. The acquisition of these companies helped Animoca Brands become more knowledgeable about the NFT space, and demonstrates its growing commitment to the emerging technology.
In addition to its NFT market participation, Animoca Brands is also planning a high street world region with deep integrations with Animoca Brands' ecosystem. This will make Highstreet World a truly immersive theme park. The game will also feature an esports league and will put the Animoca Brands IP front and center.
Quidd, a subsidiary of Animoca Brands, is another company with an NFT offering. It raised $5 million through a combination of private pre-sales and an initial DEX offering. The token sale was held on Polkadot project incubator Polkastarter and sold out in under an hour.
Animoca Brands is currently working towards opening up its flagship game, The Sandbox, to more players. This will enable players to buy and sell virtual land plots and other in-game assets. Up until now, the game has been available to a limited number of players during certain time periods. However, the company hopes to move to a full launch this year, which would mean the game would move from an "alpha" stage to a public beta stage.
Animoca Brands Japan, a unit of Animoca Brands, has raised $45 million, which will raise the company's pre-money valuation to about $500 million. The funds will be used to secure intellectual property licenses, boost internal capabilities and boost adoption of Web 3.0. Animoca Brands Japan received the funds from MUFG Bank and its parent company Animoca. The companies have also agreed to develop a network for NFTs in Japan.
Animoca Brands recently launched a new partnership with Quidd, a play-and-earn mobile gaming company. The partnership will allow users to trade non-fungible artworks and collectibles for the tokens. The tokens can be used to buy digital collectibles. Quidd has partnered with over 300 brands on digital collectibles.
The deal is the latest in an industry where digital assets are being used to expand the customer experience. The partnership with Hong Kong-based Animoca Brands allows fans to purchase digital assets featuring their favorite players. This will give fans access to immersive experiences, ticket upgrades and exclusive merchandise.
Last month, the Japanese financial regulator introduced new tax policies on crypto holdings. This included a 30% corporate tax on unrealized gains. Despite the new tax laws, Animoca Brands KK is still increasing its stake in the cryptocurrency market. In fact, it has even considered collaborating with MUFG, the leading financial group in the world with more than 2400 branches in 50 countries.
Animoca Brands is one of the largest investors in the metaverse and NFT game markets. Earlier this year, the company raised over $359 million from a group of investors, including the Bank of Tokyo-Mitsubishi UFG and Winklevoss Capital. As of last month, Animoca Brands was valued at $5 billion.