Author : Kenno
Date : Dec 04,2022
The co-founder of Animoca Brands revealed intentions to invest billions in firms with a metaverse focus.
A $2 billion fund will be established by Hong Kong-based Blockchain gaming giant Animoca Brands to invest in metaverse businesses and start-ups, according to the company's co-founder and executive chairman Yat Siu.
The fund, according to Yat Siu, may have up to $2 billion available to invest in mid- to late-stage companies with a focus on the metaverse. Yat Siu made this claim in an interview.
The amount of funds that will be made available to developers has not yet been determined; it will be disclosed soon.
Siu stated that there would be no geographic restrictions on who may receive finance and that the major focus would be "anything on digital property rights."
According to him, the funds are intended to reflect the more developed Web3 - metaverse space, which enables investors to seek capital efficiency and optimize returns.
Yat Siu stated that the fund's main objective will be equity optimization.
Despite some recent disappointments with inaccurately interpreted metaverse participation metrics, investors are nonetheless upbeat about the metaverse as a hub of future online interaction.
GameFi and metaverse ventures garnered a total $1.3 billion in funding in Q3, according to a recent study from DappRadar. Only the construction of the Web3 metaverse infrastructure received 36% of those resources.