Software Giant to Invest $2 Billion in the Metaverse
Web3 giant Animoca Brands is about to debut a fund of up to $2 billion to invest in companies in the Metaverse.
The company’s co-founder and CEO Yat Siu said in an interview that the fund, called Animoca Capital, is expected to make its first investment next year.
Animoca Brands is one of the most active investors in the Web3 sector, having made more than 60 investments in the first half of 2022, bringing the total number to more than 340 as of September this year.
Siu said the fund’s main goal will be to develop the ecosystem and create more opportunities for investors to access Web3 companies.
The fund will also focus on digital property rights. Siu believes that Web3 features (such as NFT) can help content creators break free from the control of Web2 tech giants and offer users more control over their property.
Animoca Brands is also involved in the launch of OMA3. This is a joint initiative of platform creators for the metaverse. Their goal is to ensure that virtual land, digital assets, ideas and services are highly interoperable across platforms and transparent to all communities.