Animoca Brands plans to Form $2 billion Metaverse-focused Fund

Animoca Brands plans to Form $2 billion Metaverse-focused Fund

News, NFT news

The leading blockchain gaming group Animoca Brands plans to form a $2 billion metaverse-focused fund. The primary purpose of these funds is to develop the ecosystem for web3 and boost metaverse businesses.

Investors in Animoca include the Singaporean state fund Temasek, the American investment firm GGV Capital, and the South Korean firm Mirae Asset Management.

As of the most recent round of funding, its current worth is more than $5 billion. Yat Siu, one of the company’s co-founders and its Executive Chairman, has said that the business has plans to establish a venture capital fund that will be named Animoca Capital, and that the fund’s first investment is anticipated to take place in 2019. The protection of intellectual property will be a priority for this next fund.

Additionally, Chairman Siu noted that the fund aims to raise between $1 billion and $2 billion. Despite the fact that the firm has not yet raised any capital, the account will be managed by the fund management partners.

Compiled by Coinbold

Animoca, blockchain, gaming, Metaverse, Web3