- It is also an effort to facilitate access to Web3 businesses.
- The scope of the fund’s investments will span the globe.
According to Yat Siu, co-founder and executive chairman of Hong Kong’s blockchain gaming behemoth Animoca Brands, the company will soon launch a gigantic $2 billion fund, entitled “Animoca Capital,” to invest in metaverse firms.
During an interview with Nikkei Asia, the executive said that digital property rights would be a key area of emphasis for the forthcoming metaverse fund, which is expected to make its first investment in 2023. It is also an effort to facilitate access to Web3 businesses.
Banking on Digital Property Rights
The scope of the fund’s investments will span the globe. Siu, who will co-lead the effort, thinks Animoca Capital will be a suitable starting place for Web3 entrepreneurs and investors.
The executive stated:
“The long-term goal for us, and frankly for myself, is creating a way where we all have digital property rights. I’m hoping that this will also drive a scenario where the digital property will be recognized like physical property in the legal system.”
One of the most well-known investors in NFT, blockchain gaming, and metaverse-centric companies is Animoca Brands.
In September, the firm reported it had secured $110 million in capital. From investors including Temasek, Boyu Capital, and GGV Capital. Previously, Animoca indicated that the newly injected cash would be utilized for strategic acquisitions, investments, and product development. Also acquiring licensing for popular intellectual assets; developing the open metaverse; and supporting digital property rights for online users.
Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Alien Worlds, and Star Atlas are just a few of the more than 380 investments it has made.
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