Web3: Animoca To Create Up To $2 Billion Investment Scheme For Metaverse
The famous video-game software firm, Animoca Brands, has taken to the public to announce its intention to create a Metaverse investment scheme.
The investment scheme is meant to serve as a support for business entities that are related to the metaverse, and even though no money has been raised yet, the executive chairman of Animoca, Yat Siu, has said that the proposed amount to be raised will be between $1 billion and $2 billion.
Animoca Brands Set To Create A Metaverse Investment Scheme
The famous video-game software group Animoca Brands has taken to the public to announce its plan to create an investment scheme for a metaverse-related investment scheme.
According to the co-founder, who also doubles as the executive chairman, Yat Siu, the investment scheme will be referred to as “Animoca Capital,” and it is expected to kick off next year.
Although no amount of money has been raised yet, Yat Siu stated that the proposed fund to be raised will be between $1 billion and $2 billion, and that the fund’s account will be managed by himself and the fund manager.
Chairman Yat Siu, when speaking on what will be the focus of the investment scheme, said that the spotlight will be on everything related to virtual property rights and that there will be no discrimination based on the geographic locations of investment goals.
The chairman asserted that the investment scheme will bridge the vacuum in the Web3 space and create an avenue for investors to reach Web3 firms.
Admist The Industry’s Turbulence, Animoca Soldiers On
Despite the tentative mood in the industry right now, the video-game software firm based in Hong Kong appears to be unbothered.
Animoca, which reportedly had ties with the now bankrupt crypto exchange FTX, has stated that it refuses to be deterred by the current deplorable state and that the software company will continue to render help to the ecosystem in whatever way it can.
Chairman Yat Siu, the co-founder and executive chairman of Animoca, when talking about how the fundraising has been, stated that although it is quite tougher than before, it is still bearable, and that the company remains positive for the future.
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