Animoca Brands Announces $2B Metaverse Fund for Web3 Developers

‍Animoca Brands, a Hong Kong-based Blockchain gaming company, is planning to launch a $2 billion fund to invest in metaverse firms and start-ups, company co-founder and Executive Chairman Yat Siu recently revealed. 

Yat Siu asserted in an interview that the fund may have up to $2 billion available to deploy to mid to late-stage firms with a focus on the metaverse. It has not yet been decided how much funding would be made available to developers, it is yet to be announced.

Siu said that there will be no geographic constraints on who may get financing and that "anything on digital property rights" will be the main emphasis.

He said that the funds are meant to reflect the Web3 - metaverse space's more advanced developing environment, which enables investors to seek capital efficiency and maximize profits.

“The fund will be focused on equity optimization,” said Yat Siu. 

Investors continue to be optimistic about the metaverse as a center of future online interaction despite some recent setbacks with mistakenly interpreted metaverse engagement figures.

According to DappRadar's recent report, GameFi and metaverse ventures received a combined $1.3 billion in investments in Q3. 36% of those were devoted only to Web3 metaverse infrastructure development.

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