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Technology

Hong Kong blockchain gaming group Animoca Brands claims unicorn status

Investors capitalize on growing demand for digital assets and NFTs

Yat Siu, chairman of Animoca Brands, said the inflow of traditional money is "a vote of confidence" for crypto businesses. (Source photos by screenshot from Animoca Brands and its website)

HONG KONG -- Animoca Brands, a Hong Kong-based blockchain gaming company and an active player in the nonfungible tokens market, said on Thursday that it raised the auspicious amount of $88,888,888 from investors that it claimed gives it a valuation of $1 billion, which will make it the newest crypto unicorn in Asia.

Both traditional financial institutions and crypto funds participated in the funding round, including RIT Capital Partners of the U.K., Australia's Ellerston Capital, Hong Kong-based Kingsway Capital, Taipei-based venture capital firm AppWorks Fund, blockchain investors including HashKey and Huobi, and other participants.

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