Animoca Brands has been active in the NFT world for quite some time. Investors are now planning to launch a huge Metaverse fund.
Investing in the metaverse has gained tremendous popularity over the past two years, Animoka brand attempts to take advantage of this trend. The company aims to raise his $2 billion from investors to fund projects related to blockchain, virtual reality, augmented reality, and other emerging technologies.
Future plans for the Animoka brand
Last Wednesday, co-founder of Animoca Brands, Yat Siu told Nikkei Asia Game investors are working on plans to set up huge funds to invest in the Metaverse. The funds will be used for further development and investment in promising Metaverse projects.
Animoka Capital, known as the Fund, expects to make its first investment in early 2023. The fund’s current target is set between He’s $1 billion and He’s $2 billion, but no funding has yet been raised. However, with more and more companies entering the metaverse space, the fund could quickly fill up with investors.
The Metaverse Fund will be a global venture capital fund focused on investing in companies developing the Metaverse platform. This fund offers a variety of benefits, including providing funding for startups to build products and services.
The primary purpose of these investments is to develop the Metaverse ecosystem and create a vibrant multi-player marketplace, rather than seeking returns.
Siu and the rest of the Animoca Brands team feel that the metaverse market is slowly starting to mature. So another investment vehicle is needed. The fund focuses on equity optimization and increasing investor access to his Web3 company.
Traditional investors who want to be part of the Metaverse ecosystem can also invest in this fund.
Animoca brand background
Founded in 2014, Animoca is one of the biggest players in the Web3 space. Since its founding, the company has 380+ investments At Web3-based businesses such as Dapper Labs and OpenSea.
The company was originally listed on the Australian Stock Exchange but was delisted two years ago after failing to comply with regulations. The founders have a delisting plan for the stock exchange, but have yet to provide details.
Animoca’s biggest investors include: GGV Capital, Mirai Asset Management, Temasek. As you may have noticed, these investors are based in Singapore, US and South Korea. That’s because we always try to maintain a global presence and invest in projects around the world, not just our home base.
The Hong Kong-based blockchain gaming group is known for The Sandbox, a metaverse game that allows players to buy physical parcels of digital land, decorate and trade using NFTs.
Will the fund attract major investors?
Despite the current turmoil in the cryptocurrency market, the collapse of FTX has been the hottest topic of late, but Animoca Brands is confident the fund will succeed. The company succeeded in attracting many investors.
Animoca is planning to raise $358 million in January and another $110 million in September.
Although the overall effort is more difficult, Animoca will continue to serve the Web3 market. As a matter of fact, the company plans to pledge him $10 million. Binance’s Web3 Industry Recovery Initiative Support the ecosystem.
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