coinedition.com
Animoca Brands, a Hong Kong gaming software company founded by Yat Siu, is said to be planning to raise up to $2 billion to invest in the metaverse business.
In an interview, the president announced that the company plans to launch a fund called "Animoca Capital" to promote the metaverse. He added: "We are thinking about the formation of the fund [which is now]." Although the company plans to raise an amount of 1-2 billion dollars, it was decided to make the first investment only next year.
Analyzing the history of Animoca Brands, the company raised money several times. Compared to last year, the company raised $216.25 million in 2021 to advance its digital properties.
Similarly, Animoca Brands raised $75.32 million in capital in July 2022, while the company announced that the fund will be used to promote the open meta:
Animoca Brands will use the new capital to finance strategic acquisitions and investments. , and product development, protect the licenses of popular intellectual property rights, and promote open meta-version, working to advance the digital property rights of Internet users, among other things.
The president has now explained that recent funding has focused on digital property rights, referring to the "open metaverse" and the "NFT metaverse", although the main focus is on "ecosystem development".
In addition, Siu said the increase will help more investors use Web3 companies. Since many Animoca investors want exposure to mid-sized companies, the role of the fund is to provide such companies. the needs of the fund's investors.
He further noted that the fund also aims to "optimize stocks," noting that "as a fund, you're optimizing performance, so it's different."
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