Animoca Brands lowers the goal of the meta -verse find by 20 %: report

Animoca Brands lowers the goal of the meta -verse find by 20 %: report

Animoca Brands has established itself as one of the most prominent investors in NFT, blockchain gaming and meta-severse-focused companies. But his appetite for metaverse seems to have got a blow.

In the recent development, the blockchain gaming giant, based in Hong Kong, has reportedly reduced the goal of its Metaverse fund by 20 %. The report indicates that the company reduces its initiative in response to volatility in the cryptity.

• The Fund Animoca Capital, which was presented last November, had an initial goal of around $ 2 billion, but was later halved for $ 1 billion. According to Reuters, the latest reduction reduces the goal to $ 800 million, which means a decrease of 60 % compared to the original figures.
• In an earlier interview, Yat Siu, co-founder and chairman of Animoca, said that the fund's focus is on digital property rights, while the provision of access to web3 companies remains the more comprehensive goal.
• Without geographical restrictions, the manager added that the fund would prove to be a good starting point for web3 companies and investors.
• The company had invested in over 380 companies, including some of the best known, including Axie Infinity and Openea, with the vision of developing a meta verse that is based on blockchain technology and enables users to buy and act digital assets in the form of NFTs.
• Animoca collected $ 100 million from Temasek, a state-owned company in Singapore, in a financing round.

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