Hong Kong-based blockchain game and venture capital company Animoca Brands announced yesterday that it would launch a metaverse fund targeting a fund size of $1 to $2 billion, The Nikkei reported
The fund will be named Animoca Capital and invest in growth phase as well as late-stage metaverse and non-fungible Tokens (NFT) startups across the globe, aiming to make the first investment in 2023.
Animoca has been at the forefront of investments in the web3 domain, standing out for its deal-making and execution abilities. Animoca has invested in over 380 web3 projects, including early investments into Dapper Labs, Sky Mavis (Axie Infinity), and Decentraland. One of its major web3 subsidiaries is The Sandbox, the NFT gaming metaverse allowing users to create, sell, and monetize their virtual gaming NFTs.
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