Yat Siu, the chairman of Animoca Brands; the company behind The Sandbox, has announced he will soon launch “Animoca Capital” with $2 billion worth of funds to invest in the development of metaverse services and businesses.
The gaming world is actively expanding despite the market depression. According to Siu, the metaverse platforms and games have actively seen new addition of users over the month, which indicates there is strong stability within this Web3 sector.
Animoca Brands now seems to be moving to the next step by introducing a Metaverse Fund that will help improve and promote the virtual world to the general public.
Sui’s interview with Nikkei Asia Tokyo indicated that his company, him, and his fund manager partner have plans to launch Animoca Capital and are currently collecting $1b-$2b funds.
This metaverse fund will focus on digital property rights, NFTs, open-source business, and virtual reality within Web3. “The fund will be focused on equity optimization,” Siu said.
The fund will also open doors for businesses to invest their money in the metaverse
“For a lot of traditional investors, investing in growth [stage] to a late stage is safer. It’s very different from investing in a seed startup, which has much higher risk,” he explained.
With the bear market and overall loss of trust in the Web3 world, fundraising from traditional investors might be difficult but Siu is positive that the reputation of Animoca Brands and its portfolio will attract investments more than ever, especially in these depressing times.
Animoca’s Metaverse Fund is still in its planning stage but seeing the increasing popularity of NFTs and mass metaverse adoption, this plan might turn into reality sooner than we might expect.