Animoca Brands Leads $130M Investment in Venture Accelerator Brinc for Web 3 Expansion

Venture accelerator Brinc closed a $130 million funding round, led by NFT and metaverse investor Animoca Brands.

  • Brinc closed a $30 million Series B and a further $100 million for startup investments, the company said.
  • The funds will be used to aid Brinc’s expansion into new locations and Web 3, which includes blockchain-focused programs in decentralized finance (DeFi), gaming and more.
  • Metaverse refers to an immersive digital world created by the combination of virtual reality, augmented reality and the internet, while DeFi is a blanket term that refers to financial activities carried out on blockchain without traditional middlemen.
  • The investment from Animoca Brands continues the two firms’ ongoing partnership, following the joint development of an NFT launchpad.
  • Hong Kong-headquartered Brinc claims to have supported the growth of more than 200 startups since its launch in 2014.
  • The Brinc investment comes after Animoca and Binance Smart Chain started a $200 million program to invest in blockchain gaming projects.
  • Also based in Hong Kong, Animoca Brands is an investor in NFTs and metaverse projects and has a majority stake in metaverse game The Sandbox. It received a valuation of $2.2 billion during a $65 million funding round in October.

Read more: Grayscale Says Metaverse Is a Trillion-Dollar Market Opportunity

Source: Coin Desk

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