Blockchain gaming and venture studio Animoca Brands reportedly concluded extra strategic funding round, opening the firm up to more resources for the expansion of its acquisition targets in the metaverse. 

Specifically, the firm reportedly revealed on July 12th that it has concluded a $75.32 million fundraising at a pre-money valuation of $5.9 billion, supported by Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 19T, SG Spring Limited Partnership Fund, and others.

The raise is reportedly a representative of the “second tranche” of funding following a $358.8 million raise in January, which was received back by venture heavyweights Sequoia China, Winklevoss Capital, ParaFi Capital, and 10T Holdings.

Animoca reportedly revealed that the freshly acquired capital will be dedicated towards strategic acquisitions, product development, and intellectual property licenses, as the firm aims to fast-track what is referred to as the “open metaverse” concept. 

The firm also shared its intention to keep on utilizing blockchain technology, including nonfungible tokens (NFTs), decentralized finance, and GameFi, to promote digital property rights.

Regardless of bearish movements throughout the digital asset sphere, Animoca has been putting in extensive in its portfolio expansion in 2022. In April, the venture studio completed the acquisition of a large stake in Australian digital marketing company Be Media – an initiative designed to expand collaborations with the local blockchain sector. 

The same month, Animoca purchased video game publishers Eden Games and Darewise Entertainment.

Animoca subsidiary The Sandbox (SAND) has reportedly been in the pioneering position regarding advancements in the still-nascent metaverse sphere. American lifestyle and entertainment brand Playboy recently disclosed details of the release of a “MetaMansion” in The Sandbox – a virtual mansion that will give users the freedom to take part in a wide array of gaming and social events.