Animoca Brands has introduced a groundbreaking $2 billion metaverse fund for the year 2023.
In Brief
The Web3 company based in Hong Kong, Animoca Brands, is embarking on the launch of a $2 billion metaverse fund.
The focus of this capital infusion is primarily on mid-stage and late-stage ventures. metaverse projects .
Animoca Brands, recognized for its significant presence in the Web3 gaming sector, has taken major steps. announced plans to launch This $2 billion fund aims to support the growth of the metaverse industry, with Yat Siu specifying a target on mid to late-stage projects within this vibrant space.
Animoca Brands is a prominent name in the realm of venture capital within the Web3 sector, having invested in over 380 Web3 initiatives, including a remarkable 66 investments executed in the first half of 2022 alone, setting a benchmark in the cryptocurrency market.
The core mission of the fund emphasizes digital property rights, a key priority for Animoca. The company categorizes its blockchain investments into three distinct segments:
- Blockchain games — online gaming experiences powered by NFTs and in-game currencies; Animoca's portfolio features titles like Arc8, Revv Motorsport, and Phantom Galaxies.
- NFTs — the digital collectibles These digital assets symbolize ownership and can take the form of avatars, profile pictures, artistic creations, and more.
- The metaverse — this space is significantly influenced by Animoca’s flagship offering known as The Sandbox, which serves as the foundation. gamified metaverse that includes its native token, SAND.
Despite launching this fund during a rather unstable period for the Web3 sector due to current market fluctuations and the aftermath of the FTX debacle, Siu maintains that this is an opportune moment to reinforce the industry and discover fresh pathways for growth. He asserts that the fund will facilitate easier access for investors into Web3 companies. crypto winter In July, the firm secured $75.3 million in funding, achieving a valuation of $5.9 billion, followed by an additional $110 million just two months later.
With the FIFA World Cup unfolding, Animoca Brands has teamed up with Cool Cats million in investments from Temasek and GGV Capital.
and OneFootball Labs to unveil a unique collection of 4,000 NFTs named Cool Cats FC. This initiative aims to connect the Cool Cats community with recently partnered football enthusiasts, celebrating the upcoming FIFA World Cup festivities. It's crucial to highlight that the information presented here should not be construed as legal, tax, investment, financial, or any other type of advice. One should only invest amounts that they can afford to lose and seek independent financial guidance if uncertainties arise. For additional insights, we recommend reviewing the terms and conditions, along with the support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and unbiased news, yet market conditions can shift unexpectedly. .
Disclaimer
In line with the Trust Project guidelines Agne is a dedicated journalist who focuses on the latest trends and advancements within the metaverse, AI, and Web3 landscapes for the Metaverse Post. Driven by her enthusiasm for storytelling, she has engaged in numerous interviews with leading professionals in these sectors, continually striving to reveal compelling and dynamic narratives. Agne possesses a Bachelor's degree in literature and a rich history of writing across a variety of topics, including travel, art, and culture. Additionally, she has volunteered her editorial expertise to an animal rights organization, advocating for animal welfare issues. You can connect with her through
