$2 Billion to Enter the Metaverse Via Upcoming Animoca Investment Fund

$2 Billion to Enter the Metaverse Via Upcoming Animoca Investment Fund

Animoca Brands is planning to launch and investment fund of up to $2 billion to invest in metaverse companies and web3 ecosystems, according to Nikkei Asia.

The Executive Chairman of Animoca Brands, Yat Siu, confirmed the plan during an interview, saying, "We are thinking about a fund [that is now] forming," but the funds have not yet been raised. The focus, according to Siu, "will be everything on digital property rights," including "NFT metaverse" and "open metaverse" businesses.

Siu is optimistic about investing during current turbulent market conditions.

"Obviously, it's more challenging than before," he said. "[But] on the other hand, I think it's not as competitive as before. ... In a bear market, what often happens is concentration goes to market leaders."

Despite the poor market conditions, Animoca Brands continues to see opportunity around NFTs, especially in gaming.

"More people are joining crypto every day, especially in gaming," Siu added.

Animoca Brands is no stranger to raising funds for investment. It announced a $358 fundraising round in January 2022 and $110 later in September. It is also no stranger to putting those funds to good use, making 60 investments in the first half of 2022 and more than 300 investments in the company's short life, according to research from The Block.

"The long-term goal for us, and frankly for myself, is creating a way where we all have digital property rights," Siu said. "I'm hoping that this will also drive a scenario where digital property will be recognized like physical property in the legal system."

As the bear market drags on, web3 startups and developing ecosystems will certainly look forward to the opportunity to lengthen their runways and survive until this winter is over.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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