Animoca Brands, DDC Enterprise take first steps toward $100M BTC treasury plan
The post Animoca Brands, DDC Enterprise take first steps toward $100M BTC treasury plan appeared on BitcoinEthereumNews.com. Animoca Brands is expanding its role as a Web3 and gaming fund, recently joining DDC Enterprise in a bid to expand its BTC treasury. The VC fund and gaming startup will contribute up to $100M for its treasury strategy. Anomica Brands struck a partnership with DDC Enterprise, with the goal of injecting $100M for BTC treasury expansion. With this move, Animoca Brands shifts its attention from Web3 startups and games, aiming to allocate a part of its assets back to BTC. So far, Animoca Brands has raised $825.9M, which have been used for its own games, as well as for startups. The company started its fundraising efforts in 2015, and continued through several bull markets, building up a significant ETH and BTC treasury. The exact BTC holdings are not specified, but the company has an extensive crypto portfolio, accrued over the years. “Our partnership with DDC enables Animoca Brands to enhance the value of our blockchain technologies and maximize the value of our Bitcoin holdings,” added Yat Siu, co-founder and executive chairman of Animoca Brands. Animoca Brands joined the BTC treasury trend after slowing down its VC investments into riskier early-stage projects. Animoca Brands to advice on BTC yield strategies DDC Enterprise Limited (DDC) signed a non-binding memorandum of understanding with Animoca Brands. The fund will help DDC to develop and implement yield strategy for the current BTC treasury. Animoca Brands will extend help and allocate up to $100M in BTC toward yield enhancement strategies operated by DDC. The move will accelerate the DDC accumulation strategy, in addition to its recent $528M financing package. The fundraising is split between PIPE raises, a $300M convertible note, $200M equity line, and a $2M equity private placement. Yat Siu, the co-founder and executive chairman of Animoca Brands, will join DDC’s Bitcoin Visionary Council, providing…
The post Animoca Brands, DDC Enterprise take first steps toward $100M BTC treasury plan appeared on BitcoinEthereumNews.com.
Animoca Brands is expanding its role as a Web3 and gaming fund, recently joining DDC Enterprise in a bid to expand its BTC treasury. The VC fund and gaming startup will contribute up to $100M for its treasury strategy. Anomica Brands struck a partnership with DDC Enterprise, with the goal of injecting $100M for BTC treasury expansion. With this move, Animoca Brands shifts its attention from Web3 startups and games, aiming to allocate a part of its assets back to BTC. So far, Animoca Brands has raised $825.9M, which have been used for its own games, as well as for startups. The company started its fundraising efforts in 2015, and continued through several bull markets, building up a significant ETH and BTC treasury. The exact BTC holdings are not specified, but the company has an extensive crypto portfolio, accrued over the years. “Our partnership with DDC enables Animoca Brands to enhance the value of our blockchain technologies and maximize the value of our Bitcoin holdings,” added Yat Siu, co-founder and executive chairman of Animoca Brands. Animoca Brands joined the BTC treasury trend after slowing down its VC investments into riskier early-stage projects. Animoca Brands to advice on BTC yield strategies DDC Enterprise Limited (DDC) signed a non-binding memorandum of understanding with Animoca Brands. The fund will help DDC to develop and implement yield strategy for the current BTC treasury. Animoca Brands will extend help and allocate up to $100M in BTC toward yield enhancement strategies operated by DDC. The move will accelerate the DDC accumulation strategy, in addition to its recent $528M financing package. The fundraising is split between PIPE raises, a $300M convertible note, $200M equity line, and a $2M equity private placement. Yat Siu, the co-founder and executive chairman of Animoca Brands, will join DDC’s Bitcoin Visionary Council, providing…
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