Cindy Tan
Initially, Animoca Brands had set out to raise an impressive $2 billion for its metaverse fund, before scaling it back to $1 billion earlier this year.
Insiders indicate that the fund's objectives have been cut by a further 20%, taking the new target to $800 million.
Animoca Brands has made headlines by reducing its funding goal from $1 billion to $800 million, as reported by industry insiders. original This update comes from sources who are well-informed about the circumstances.
article for precise information. In Brief The company aimed to establish a $2 billion metaverse fund earlier, but that figure was lowered to $1 billion back in January. Reuters This leading blockchain gaming and investment firm has seen a valuation of $5.9 billion as of September 2022. Last November, Animoca In a statement to Reuters, a spokesperson for Animoca did not provide comments regarding their fundraising efforts. It’s notable that Animoca Brands currently manages assets exceeding $1.5 billion and owns a diverse investment portfolio comprising over 380 companies, such as Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, among others.
Their various subsidiaries include The Sandbox, Animoca Brands Japan, Grease Monkey Games, Eden Games, and Darewise Entertainment.
Planet Hollywood is also making strides to create a members-only venue tailored for the web3 community. announced plans , reducing the target raised $110 million
TinyTap PIXELYNX The reduction in the fundraising target indicates a shifting perspective on the metaverse and the larger web3 ecosystem. This shift has been particularly noticeable since Meta opted to pivot away from its NFT and metaverse ambitions toward a heavier emphasis on the burgeoning field of AI.
In a letter addressed to employees, Mark Zuckerberg emphasized that Meta, a company that once placed a staggering $70 billion wager on the metaverse, has now identified AI as the 'most crucial technology' for the future of social media, stating that its 'largest investment is in advancing AI and integrating it across all of its products.'
In a statement released on Thursday, the tech giant argued against proposals from some European telecom firms that suggested imposing network fees on Content Application Providers (CAPs), including Meta.
, and WePlay Media. Animoca Brands most recently The company asserted that 'the growth of the metaverse will not necessitate telecom providers to increase capital expenditures for expanded network resources' as it predicts that 'metaverse adoption will primarily be enabled by Virtual Reality (VR)' in the foreseeable future. This suggests that Meta's grand vision of a seamless merger between the physical and digital realms may not come to fruition any time soon.
Navigating Business Integration into the Metaverse
partnered with
Animoca Brands
Meta Metaverse Cindy is a dedicated journalist at Metaverse Post, specializing in web3, NFTs, the metaverse, and AI topics. She focuses on interviewing prominent figures in the Web3 sector, having engaged with over 30 C-suite executives and continues to share their invaluable insights with her audience. Originally hailing from Singapore, Cindy is now situated in Tbilisi, Georgia, and holds a Bachelor's degree in Communications & Media Studies from the University of South Australia, backed by a decade of journalism and writing experience.
Disclaimer
She actively handles press pitches, announcements, and offers interview opportunities. In line with the
uz
