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.
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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.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
