Animoca Brands Announces $2B Metaverse Fund

The Hong Kong based BlockchainGaming giant Animoca Brands is poised to launch a massive $2 billion fund called “Animoca Capital” to invest in Metaverse companies, according to co-founder and CEO Yat Siu.

• Speaking to Nikkei Asia, the manager revealed that the upcoming Metaverse fund, which will make its first investment in 2023, will focus on digital property rights. It is also intended to provide opportunities for access to Web3 companies.
• The fund’s investment objectives are not subject to geographical restrictions. Siu, who will lead the initiative with a partner, believes Animoca Capital will prove to be a good entry point for Web3 companies and investors.
• The managing director said in a statement:

“The long-term goal for us, and honestly for myself, is to create a path where we all have digital ownership rights. I hope this will also drive a scenario where digital property is recognized in the legal system like physical property.”

• Animoca Brands has emerged as one of the most prominent investors in NFTblockchain gaming and Metaverse-focused businesses established.
• In September, the company announced it had raised $110 million in a funding round led by Temasek, Boyu Capital and GGV Capital. Animoca previously explained that the freshly infused funds will be used for strategic acquisitions, investments and product development, securing licenses for popular intellectual properties, advancing the open metaverse, and promoting digital property rights for online users.
• meanwhile be included portfolio 380+ investments including Colossal, Axe InfinityOpenSea, Dapper Labs (NBA Top Shot), Alien Worlds and Star Atlas.