In what is its latest bet on the metaverse, Nasdaq-listed KKR & Co is set to join a $500 Million funding round for The Sandbox creator Animoca Brands Corp., according to reports. The New-York based portfolio manager joins a host of other companies vying for a share of one of the hottest firms in the metaverse space.
A groundbreaking 2021 for both the metaverse and non-fungible tokens has garnered attention from some of the biggest firms around the world. Animoca Brands itself has been a direct recipient of the space’s success, collecting investments from Ubisoft, Sequoia Capital, and Softbank in 2021.
Animoca is well prepared to penetrate the metaverse space deeper in 2022. The Hong-Kong firm said that it raised nearly $360 Million at a $5 Billion valuation in January to enhance its metaverse footprint. The funding round was led by Liberty City Ventures and included investments from Winklevoss Capital, among other firms.
“We believe we are still at the initial stages of a new Internet revolution, and there are tremendous opportunities ahead of us in 2022 and beyond,” said Yat Siu, co-founder and executive chairman of Animoca Brands.
The metaverse became home to software giants Sony, Microsoft, and Disney last year. Opportunities in the space are second to none- with personalities such as Satya Nadella, Bill Gates, and Sundar Pichai acknowledging the ever-expanding scope of possibilities. Recently, the world’s largest asset manager, BlackRock, said that 2022 would be a game-changer for the metaverse.
For the moment, it’s unclear as to whether the funding round would directly impact Animoca’s subsidiary, The Sandbox. However, native token SAND did see a positive start to the day. The token’s price noted a 10% surge during early hours of trade but slipped lower in the following sessions.
At the time of writing, neither Animoca Brands nor KKR gave an official confirmation concerning the abovementioned funding round.