The blockchain gaming startup Animoca Brands has received the additional US $21 million from True Global Ventures (TGV), the VC’s largest investment to date in a single business.
The investments were made through TGV’s 4 Plus Fund and its Follow On Fund in the second and third quarters of 2022. This round followed an earlier infusion of US $17 million. TGV has supported Animoca from the beginning of 2019.
Animoca Brands secured US $110 million earlier this month from investors such as Temasek, GGV Capital, and Boyu Capital. During that round, TGV had also invested in Animoca.
The agreement comes after Animoca raised US $75 million in July 2021 at a US $5.9 billion value.
The Sandbox and the racing game ecology of REVV are examples of Animoca’s works. The business has also invested in other Web3 projects, such as the decentralized autonomous organization Yield Guild Games and NFT marketplace OpenSea.
As part of its efforts to develop play-to-earn economies and a framework that can contribute to the open metaverse, the business set aside the new funding for digital property rights.
In addition to Animoca Brands, TGV 4 has also made investments in other Web3 firms, including The Sandbox, a division of Animoca Brands, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob, and Dedoco.