Animoca Brands Raising $1-2 Billion for a New Metaverse Fund

Animoca Brands is raising $1-2 billion for a new fund that is going to be managed by co-founder and executive chairman Yat Siu and his managing partner. The main target of the fund will be mid to late-stage metaverse start-ups. As of now, Animoca makes investments in three blockchain segments, among which are NFTs and blockchain games with in-game tokens as a cryptocurrency to facilitate transactions between players. Overall, 380 projects.

Animoca, Hong Kong, was founded by Yat Siu in 2014. Animoca Brands was established to develop smartphone and tablet games. Then Animoca started venturing into blockchain, and now designs and develops a variety of products such as tokens – REVV, SAND, games – The Sandbox, Crazy Kings, and products of popular intellectual properties – Marvel, Poer Rangers, etc. The company’s mission is to create a new asset class while delivering intellectual property rights to gamers and Internet users. Animoca not only develops its own products, but also invests and establishes partnerships with Sky Mavis, Dapper Labs, OpenSea, Harmony, Bitski, and Alien Worlds. As of now, the company’s portfolio consists of 150 NFT-related projects.

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