Animoca Brand is a Hong Kong-based, blockchain gaming company that plans to launch a fund to invest upto US$2billion in metaverse-based companies.Animoca is most famous for its Sandbox metaverse, which allows users the ability to purchase digital land plots that can then be decorated using non-fungible tokens.
The company, which has a market valuation in excess of $5 billion, has a number of high-profile backers, including Singapore sovereign wealth fund Temasek, US venture capital firm GGV Capital and South Korea’s Mirae Asset Management.
Yat Siu (Animoca founder and chairman) stated that the Animoca Fund will target startups in mid- to late-stage with a focus digital property rights.
Animoca has invested more than 380 dollars in Web 3.0 businesses so far, but the metaverse fund will not make its first investment before 2023.
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