Animoca Brands, the owner of Sandbox, allocates $2 billion to the metaverse fund. It will focus on mid- to late-stage start-ups.

Animoca Brands inaugurates its investment wing, Animoca Capital. According to a Nikkei Asia report, the Hong Kong-based blockchain gaming firm plans to launch a fund of up to $2 billion to invest in metaverse businesses.

Animoca Brands is one of the main owners of the Sandbox metaverse project, which allows users to create, buy and sell digital assets in the form of non-fungible tokens (NFTs). Sandbox has a market capitalization of over $850 million.

According to co-founder Yat Siu, Animoca Capital will start investing from its $2 billion fund next year. His focus will be on “everything related to digital property rights.” The fund will invest globally,…