Temasek Invests $100 Million in Metaverse Giant Animoca

MetaversePlanet August 31, 2022

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Temasek, a Singaporean state-owned company managing $300 billion, has invested $100 million in Animoca Brands, known for its metaverse investments, through convertible bonds.

Animoca Brands, a game developer company, recently received a $22.5 million investment from Mitsubishi UFJ (MUFG), the world’s second-largest banking and financial institution, for its Japanese branch. Now, it has secured a substantial investment from Temasek, a Singapore state-owned enterprise.

According to a Bloomberg report citing unnamed sources, Temasek plans to finance this significant investment using convertible bonds.

Neither Animoca Brands nor Temasek have made any official statements regarding this matter as of yet.

Hundreds of millions of dollars poured in from the world’s biggest

Temasek Invests $100 Million in Metaverse Giant Animoca

Animoca Brands raised $359 million from investors, including George Soros and the Winklevoss twins, owners of the Gemini cryptocurrency exchange, in an investment round launched in January of this winter.

In the same investment round, the company previously secured $75 million in the summer. Following these investments, Animoca reached a valuation of $6 billion, transforming from a small mobile game developer into Asia’s largest blockchain-focused investor.

Well-known for its investments in the Metaverse, Animoca also holds the largest stake in Sandbox.

Yat Siu, a co-founder of Animoca, recently mentioned in an interview with Bloomberg that they are closely monitoring the dips in the cryptocurrency markets and considering this environment as an opportunity for further acquisitions.