viewAnimoca Brands Corporation Ltd

Animoca Brands participates in Series A financing for CryptoKitties developer

CryptoKitties is the world’s most used consumer blockchain application, outside of exchanges.

Animoca is the China distributor for CryptoKitties

Animoca Brands Corporation Ltd (ASX:AB1) has participated in a Series A financing into Dapper Labs Inc., the company behind the world's first and most successful consumer blockchain product, CryptoKitties.

The round, totalling US$15 million, was led by Venrock, with participation from GV (formerly Google Ventures) and Samsung NEXT, among others.

The amount invested by Animoca was not material. To date, Dapper Labs has raised a total of US$27.85 million.

READ: Animoca Brands increases revenue amid key acquisitions

CryptoKitties is the world’s most used consumer blockchain application, outside of exchanges, with 3.2 million transactions and tens of millions of dollars transacted on the platform.

The game launched in late 2017 to showcase the potential of blockchain beyond cryptocurrencies: by focusing on games and entertainment, CryptoKitties helped to introduce mainstream users to blockchain products and technology.

Animoca Brands is the exclusive mobile distributor of CryptoKitties in Greater China and receives a share of revenue generated in the region.

Additionally, the company negotiated a license for multinational consumer electronics company HTC to publish and promote CryptoKitties on HTC phones, including HTC’s U12+ flagship mobile device.

READ: Animoca Brands signs multiple deals to launch blockchain products for mass consumer markets

Animoca co-founder and chairman Yat Siu said: “We’re very pleased to see strong support for our strategic partner Dapper Labs, and we are humbled to be included among such esteemed investors.

“CryptoKitties is a pioneer in blockchain games, and represents an important step toward our vision of widely used cross-platform non-fungible tokens.”

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