Animoca Brands recently led a $10 million Series A for Hong Kong-based non-fungible token (NFT) platform, Ucollex together with MCP IPX One Fund from Japanese investment firm MCP Asset Management.
Ucollex’s NFT platform, focused on art and pop collectible’s, offers users exclusive content, artist interviews, 3D art and virtual reality experiences. Last year it teamed up with Binance for its first Jimmy Choo NFT drop.
While the number of shares and valuation was not disclosed, the company said to use the funds to scale operations and push marketing efforts related to significant intellectual property (IP) partnerships.
In a press release, Animoca Brands co-founder and Executive Chairman Yat Siu said:
“We are pleased to lead this investment, which we believe will make it easier for intellectual properties to participate in the open metaverse.”
On Tuesday, February 22, Animoca Brands officially announced their new joint venture with Korean Cube Entertainment, named AniCube.
According to the announcement AniCube will “build a music metaverse and issue NFTs and ecosystem tokens based on the intellectual property rights of Cube Ent’s globally popular K-pop music artists and actors.”
Animoca Brands has become a larger player in metaverse projects by investing in non-fungible tokens (NFT) and decentralized gaming metaverse projects. The firm currently has a portfolio of over 150 investments including Dapper Labs and Sky Mavis (Axie Infinity).
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Source: Igaming
