Blockchain gaming developer Animoca Brands has raised $110 million from investors, the company said in a statement on Thursday.

The company issued convertible notes in a funding round which values it at around $5.6 billion, it said.

New investors include Singapore-based Temasek, global venture capital firm GGV Capital and China-focused asset manager Boyu Capital, the statement said, with some existing investors also contributing.

"Our new investors will contribute strategic advice and perspective," Animoca Brands' co-founder Yat Siu said in a statement, describing it as a "special strategic round of fundraising."

The funds raised will be used to make more acquisitions and investments, as well as product development and securing intellectual property licenses, the statement said.

Animoca Brands raised $75 million in July and $360 million in January.

The Hong Kong-headquartered company owns several blockchain game subsidiaries, including The Sandbox, Gamee, nWay, Blowfish Studios, and Grease Monkey Games.

On June 6, the company released its key unaudited financial and business highlights for the last three months of 2021 and the first four months of 2022.

According to the report, it invested over $1.5 billion across more than 340 projects as of April 30, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas, among others.

In the past seven months, Animoca Brands has earned over $721 million from token sales and NFT sales, including secondary sales and other non-blockchain activities.

Most recently, the firm strengthened its positions by acquiring Notre Game, the Prague-based publisher of hybrid physical-digital collectible card mobile game Scratch Wars, while also expanding its presence in Japan by establishing a strategic subsidiary called Animoca Brands Japan with a $10 million seed round.

Last year, the influx of speculators into digital assets, which has been fueled by easy monetary policy, has sent prices of NFT and cryptos to go through the roof. But over the past few months, digital assets have shrunk dramatically in value as investors try to avoid risky investments amid tightening monetary policy.

As of writing, SAND, the token of metaverse game The Sandbox, is $0.91, down nearly 90% from its all-time high of $7.51.