leadf
logo-loader
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.

CryptoKitties
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.”

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Animoca Brands achieves unicorn status with US$88.88 million capital raise

Animoca Brands CEO Robby Yung speaks to Proactive's Andrew Scott following its capital raise of US$88.88 million (around A$113.5 million). The company plans to use the new capital to fund acquisitions, new product development, to make strategic investments and secure additional licences for...

on 20/5/21

2 min read