Animoca Brands Raises $1 Billion For A New Web3 And Metaverse Investment Fund
Key Points:
- Animoca Brands Corp. is seeking to raise around $1 billion this quarter for its new Web3 and metaverse investment fund.
- The firm plans to utilize the funding to help blockchain and metaverse firms.
According to a Bloomberg report, Yat Siu, the chair of the Hong Kong-based firm Animoca Brands, stated in a Twitter Spaces interview that it is now aiming to fund close to $1 billion for Animoca Capital this quarter.
Bloomberg reported that Animoca Brands Corp. is seeking to raise around $1 billion this quarter for its new Web3 and metaverse investment fund, drastically reducing its goals in light of the current collapse of the cryptocurrency market. It has reduced the amount that Animoca Brands hoped to raise for a new web3 and metaverse investment fund in half.
On December 30 last year, Animoca Brands, was launching a $2 billion fund to invest in metaverse startups, according to co-founder and executive chairman Yat Siu in an interview with Nikkei, noting that the fund’s emphasis would be entirely on digital property rights.
As Bloomberg reported on January 5, 2023, Yat Siu, co-founder and chairman of Animoca Brands, said that Animoca Capital was in negotiations with possible investors and plans to utilize the funding to help blockchain and metaverse firms.
The announcement comes as the cryptocurrency market is still recovering from Sam Bankman-stunning Fried’s FTX’s crash in November. According to Siu, over a dozen of Animoca’s portfolio firms were impacted.
Q1 is the goal and then let’s see what happens, It is fair to say it’s a challenging market. But we have quite a bit of interest.
Siu told Bloomberg of Animoca Capital’s plans
Animoca Brands is one of the most active Web3 investors. Its subsidiaries include metaverse game platforms The Sandbox, Blowfish Studios, Grease Monkey Games, and Eden Games, in addition to investments. So far, the firm has been making more than 380 investments, which accounts for so great a haul of tokens.
Yesterday, Coincu reported that a total of $544 million was raised by Animoca from investors in 2022, including Temasek, Boyu Capital, GGVCapital, and others. The financing supports Animoca’s initiatives to create the Open Metaverse and give Digital Property Rights to all internet users worldwide.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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Animoca Brands Raises $1 Billion For A New Web3 And Metaverse Investment Fund
Key Points:
- Animoca Brands Corp. is seeking to raise around $1 billion this quarter for its new Web3 and metaverse investment fund.
- The firm plans to utilize the funding to help blockchain and metaverse firms.
According to a Bloomberg report, Yat Siu, the chair of the Hong Kong-based firm Animoca Brands, stated in a Twitter Spaces interview that it is now aiming to fund close to $1 billion for Animoca Capital this quarter.
Bloomberg reported that Animoca Brands Corp. is seeking to raise around $1 billion this quarter for its new Web3 and metaverse investment fund, drastically reducing its goals in light of the current collapse of the cryptocurrency market. It has reduced the amount that Animoca Brands hoped to raise for a new web3 and metaverse investment fund in half.
On December 30 last year, Animoca Brands, was launching a $2 billion fund to invest in metaverse startups, according to co-founder and executive chairman Yat Siu in an interview with Nikkei, noting that the fund’s emphasis would be entirely on digital property rights.
As Bloomberg reported on January 5, 2023, Yat Siu, co-founder and chairman of Animoca Brands, said that Animoca Capital was in negotiations with possible investors and plans to utilize the funding to help blockchain and metaverse firms.
The announcement comes as the cryptocurrency market is still recovering from Sam Bankman-stunning Fried’s FTX’s crash in November. According to Siu, over a dozen of Animoca’s portfolio firms were impacted.
Q1 is the goal and then let’s see what happens, It is fair to say it’s a challenging market. But we have quite a bit of interest.
Siu told Bloomberg of Animoca Capital’s plans
Animoca Brands is one of the most active Web3 investors. Its subsidiaries include metaverse game platforms The Sandbox, Blowfish Studios, Grease Monkey Games, and Eden Games, in addition to investments. So far, the firm has been making more than 380 investments, which accounts for so great a haul of tokens.
Yesterday, Coincu reported that a total of $544 million was raised by Animoca from investors in 2022, including Temasek, Boyu Capital, GGVCapital, and others. The financing supports Animoca’s initiatives to create the Open Metaverse and give Digital Property Rights to all internet users worldwide.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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