Temasek Holdings, the Singaporean state investor has joined a $100 million funding spherical for Animoca Manufacturers, placing its cash behind one in all blockchain gaming giants. Whereas the crypto market hasn’t been resistant to the broader monetary meltdown, Temasek’s transfer demonstrates that there’s nonetheless confidence within the blockchain gaming area.
Whereas being a interval of downscaling for crypto firms, Animoca goals to benefit from the state of affairs by shopping for up stakes in main firms and digital tokens.
As soon as it has constructed up a powerful sufficient portfolio, Yat Siu, Animoca’s Chairman, said the need to take the corporate public within the subsequent few years. However this technique is dependent upon how prepared the broader market is to just accept it.
Whereas Temasek itself doesn’t immediately put money into cryptocurrencies, its technique has revolved across the underlying firm and repair suppliers. For instance, the fund participated in a $200m funding spherical for Amber Group in February.
