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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

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