Animoca Brands plans to launch a $2 billion fund to invest in the metaverse.
The Chairman announced that the funding would be focusing on digital property rights.
The fund also aims at developing the ecosystem and providing opportunities to access Web3 companies.
Reportedly, Animoca Brands, the Hong-Kong based game software company founded by Yat Siu, is planning to raise funds up to $2 billion to invest in the metaverse business.
In an interview, the Chairman announced that the company has planned to launch the fund, “Animoca Capital” to contribute to the metaverse. He added, “We are thinking about a fund [that is now] forming.” Though the company expects to raise an amount between $1 billion to $2 billion, it has been decided to have the first investment only the next year.
While analyzing the history of Animoca Brands, the company has raised funds several times. Tracing back to the previous year, over the course of 2021, the company had raised $216.25 million to contribute to its digital property rights.
Similarly, in July 2022, a capital raise of $75.32 million had been raised by Animoca Brands while the company stated that the fund will be used to advance open metaverse:
Animoca Brands will use the new capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular in ...
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