According to co-founder and executive chairman Yat Siu, blockchain gaming giant Animoca Brands, based in Hong Kong, is getting ready to launch a sizable $2 billion fund called “Animoca Capital” to finance ventures in the metaverse.
Statements by Yat Siu
In an interview with Nikkei Asia, Yat Siu disclosed that the future metaverse fund will concentrate on digital property rights and make its first investment in 2023. Additionally, Animoca Brands aims to give users access to Web3 businesses.
On the other hand, the fund investment targets will not be restricted by location. Siu, who will co-direct the project with a partner, is confident that Web3 businesses and investors will find Animoca Capital to be an excellent entry point.
In short, Siu’s long-term goal is to create a new way for people to own digital property rights. In fact, Siu hopes that his path will even lead to a scenario where the digital property is recognized in the legal system as physical property.
About Animoca Brands
One of the most well-known investors in NFT, blockchain gaming, and metaverse-focused companies is Animoca Brands. The Sandbox is an online multiplayer game where players construct, own, trade, or earn assets in the form of NFTs. It is arguably the most well-known of Animoca’s investments in the metaverse because the platform’s largest shareholder is Animoca.
On the other hand, the firm reported that it had raised $110 million in a capital round that was coordinated by Temasek, Boyu Capital, and GGV Capital in September. The money, according to Animoca, will be utilized for strategic purchases, investments, and product development, as well as for securing licenses for well-known intellectual properties, expanding the open metaverse, and supporting digital property rights for internet users.