What does the Metaverse fund prepared by Animoca Brands include? Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced plans to launch a $2 billion metaverse fund. The new fund, which will focus on returns for potential investors who want greater exposure to the capital associated with Web3, will focus on its work in the company and the central investment center.
Animoca Brands plans to launch an Animoca Capital investment
Animoca Brands, one of the most prominent metaverse and NFT companies in the ecosystem, has announced plans to launch its own metaverse currency. According to a statement by producer Yat Siu told Nikkei on November 2. On December 29, the company is looking to raise between $1 billion and $2 billion for this new initiative.
Animoca Brands, which has already raised $804 million from a number of investors across multiple funding channels, intends to invest the new funds (once raised) into the metaverse platform established in the middle of the investment period and late, as it seeks to prioritize income over the development of the web environment3, allowing partners to invest in other businesses in the area. On the reasons for this decision, Siu said:
For many traditional investors, investing in time-honored investments is a good time. It’s very different from investing in a seed startup, which is very risky. The fund will be called Animoca Capital for the time being.
Metaverse and Web3 games have been a hot investment topic recently. However, cashing out following the FTX crash and under current market conditions is different. However, Siu thinks that, although it is difficult, the position of Animoca Brands makes this task easier. He explained:
In a bear market, what usually happens is that the concentration goes to the market leaders.
Also, Siu said Animoca believes that Metaverse and Web3 games can be a powerful vehicle for cryptocurrency, and players to see the role of these different platforms from marketers and speculators. of cryptocurrency. Animoca is not the only company responsible for future Web3 games in the metaverse. In Nov. On December 29, Game7, a game-focused autonomous organization (DAO), announced the launch of a grant program that will invest $ 100 million in various areas of the Web3 game industry, including tools to enable the programming can coordinate game development.
The company did not provide other details about the players who will be interested in investing in this fund or the start date of the proposed tool.