Animoca Brands has announced that it is launching a $2 billion fund to invest in upcoming metaverse businesses. The company’s co-founder and CEO Yat Siu shared in an interview with Asia that he will mainly focus on Web3 projects focused on digital property rights.

The co-founder has yet to determine the terms and conditions of the fund. However, Siu plans to make the first investment next year.

Animoca Brands has been making significant contributions and collaborations in the Web3 space, promoting an open, digital and barrier-free economy in the metaverse. The Web3 developer has also been investing in many upcoming projects for some time, the most recent being Roboto Games and Wanderers.

Developing the Ecosystem

Animoca Brands has quickly become a household name in the Web3 space, making significant contributions to the ecosystem with collaborations, investments, and developments. The developer has made about 380 investments in Web3 business. These mainly consist of NFT-based metaverse platforms and blockchain games.

The latest developments from Animoca Brands include:

• $2 million seed funding round from Leading Wanderers.
• Invest in Roboto Games’ $15 million fundraiser.
• Raising $228,000 for teachers through the Tiny Tap NFT collection.
• Collaborating with leading automotive company Nissan (OTC:) to participate in an upcoming drifting game.
• Collaborating with Cool Cats

Yat Siu is an active advocate of Web3 and expresses his support for blockchain gaming and metaverse platforms. In a recent interview, Siu highlighted that metaverse platforms could expect hundreds of millions of new entrants into the space thanks to the existing product line. He added that the wave of higher caliber game productions entering the space would attract a new generation of people joining the metaverse.

Furthermore, there are over 3.2 billion traditional gamers in a ‘closed metaverse’ without owning their in-game assets. The head of Animoca Brands has shared his optimism to help them transition to Web3 by encouraging them with digital ownership and a solid infrastructure.

While the fund has yet to raise any money, Siu is optimistic about the $2 billion goal. Siu shared with Nikkei Asia that the fund will emphasize metaverse businesses. It will also ensure that there will be no geographic restrictions on investment objectives.

Animoca Capital, Siu’s experimental metaverse fund, expects to make its first investment next year, with the primary goal of developing the ecosystem. They will help investors gain direct exposure to mid- to late-stage startups through the fund.

The Web3 industry has shown great progress over the years. Web3 companies have remained strong and continue to expand. This is in stark contrast to other tech companies, considering the current chaos in the market. Major tech companies, including Facebook (NASDAQ:), Twitter and Amazon (NASDAQ:), are laying off significant portions of their workforce to weather the effects of fear and economic uncertainty.

Siu plans to pursue capital efficiency with this fund, considering the industry is now more mature. The president plans to create more opportunities for investors to get into Web3 and believes the fund would be a good entry point for companies.

In the reverse

• Animoca Brands has voiced its investments, continually building the space with its contributions and resources. The Web3 frontman also recently announced fundraising of $358 million and $110 million in January and September, respectively.
• They also contributed $10 million to the Web3 Industry Recovery Initiative, led by Binance in light of the recent chaos in the crypto industry.
• In a recent collaboration with Upland, Gala Games shared similar visions of promoting digital ownership and an open economy. Furthermore, we have yet to see a partnership between industry leaders.
• The valuation of Animoca Brands is approximately $6 billion. We have yet to see how it plans to raise around 30% of its valuation for a fund that expects to make its first investment next year.

why should you care

Animoca Brands’ next fund could establish the infrastructure for the Web3 space. The fund’s plans also align with Animoca’s vision of building an open metaverse to welcome the next wave of one billion users to Web3. Also, $2 billion is a huge amount of money for the gaming sector. This is especially true for future independent developers looking to create professional productions.

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Animoca Brands co-founder believes Web 3.0 will soon see “hundreds of millions of new users” – DailyCoin

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