Photo by Duncan Rawlinson on Flickr.com
Animoca Brands announced plans to set up a $2 billion fund to invest in its metaverse businesses.
The concept of the metaverse continues to develop rapidly, almost every day. These developments lead to studies on the metaverse. Finally, one of these works came from Animoca Brands. Yat Siu, the co-founder of Animoca Brands, announced in a statement that NFT and game investor Animoca Brands plans to set up a $2 billion fund to invest in their metaverse businesses.
Animoca Brands will announce its new fund, Animoca Capital, which plans to make its first investment next year. The focus of the fund in question is “everything related to digital property rights.”
Finally, Animoca Brands has been one of the leading investors in NFT, blockchain games, and metaverse-related companies and is backed by companies such as Singapore’s state investment fund Temasek. Probably the most prominent among Animoca’s metaverse investments is The Sandbox, an online multiplayer game where users create, own, trade, or earn assets in the form of NFTs.