Blockchain Gaming Juggernaut Hits $5.5B Valuation as Tamadoge Nears Price Increasebit2main
Blockchain gaming firm, Animoca Brands, has achieved a $5.5 billion company valuation following the completion of its latest fundraising round which attracted $75.3 million from investors, including Liberty City Ventures and Kingsway Capital.
Animoca Brands has invested in over 340 blockchain gaming companies to date as it seeks to build out its vision for a gaming metaverse underpinned by Web3 technology. In addition to its growing portfolio of investments, Animoca’s subsidiaries also develop in-house blockchain games, most notably The Sandbox metaverse, the education app TinyTap, the REVV Motorsport racing franchise, and many more.
Through its development of The Sandbox, Animoca formed fruitful partnerships with major brands and celebrities, such as Adidas, Snoop Dogg, The Walking Dead, Deadmau5, Atari, Rollercoaster Tycoon, Care Bears, The Smurfs, and many more.
Blockchain Gaming – Is GameFi Set to Explode?
The gaming wing of the blockchain space alone, known as GameFi (gaming finance), is expected to attain a global valuation of over $2.8 billion in the next six years.
Even amid the current bear market, which has thus far seen $2 trillion wiped off the global market cap, a steady increase has been noted in the number of daily active users, and the number of transactions, being recorded in the GameFi space.
Nor has the bear market affected the rate of innovation present in the blockchain gaming space, as more novel projects continue to launch by the day.
Tamadoge (TAMA) is an upcoming blockchain game that bridges the gap between beloved digital pet games like Tamagotchi, and iconic meme-coins like Dogecoin (DOGE). Players must feed and nurture their pets to adulthood, and earn “Dogepoint” rewards in the process. Tamadoge aims to bring utility to a meme-coin space which garners lots of media attention, but has thus far failed to offer tangible use-cases or practical applications.
Meme-coins became a household term in the cryptocurrency space in recent years, fuelled by high-profile endorsements of the original meme-coin – Dogecoin – by Tesla CEO, Elon Musk.
Tamadoge’s TAMA tokens are currently available in a presale, which has raised over $13 million in little over a month. The presale is currently in its seventh phase, where 1 USDT is equal to 40 TAMA. The eighth phase of the presale will see the token price increased to a rate of 1 USDT to 36.36 TAMA.