The leading blockchain gaming group Animoca Brands plans to form a $2 billion metaverse-focused fund. The primary purpose of these funds is to develop the ecosystem for web3 and boost metaverse businesses.
Animoca investors include Singapore state fund Temasek, GGV Capital of the U.S. and South Korea’s Mirae Asset Management.
As of its latest fundraising, it has a valuation of over $5 billion. As per company co-founder and Executive Chairman Yat Siu, the company intends to launch a fund called Animoca Capital with its first investment expected next year. This forthcoming fund’s focus will be on digital property rights.
Chairman Siu also stated that the fund target is $1 billion to $2 billion. However, the company has not raised money but its fund manager partners will oversee the account.
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