Yat Siu, the founder of Animoca Brands, known especially for his metaverse and Web3 investments in 2021, announced in a Twitter Spaces speech he attended today that they are in talks with various investors for the 1 billion dollar investment they aim to receive as of the first quarter of the year.
Speaking at Bloomberg’s Spaces event, Siu stated that the FTX collapse affected the entire crypto world, including the companies they invested in, and said:
“The current target for us is the investment we will receive in Q1. We have to point out that it is a really tough market. The market is really unstable and so even if the ups come, it will stay below the level we want. The FTX collapse had a negative impact on the market. This includes companies in our portfolio. Still, I think the capital for cryptocurrencies will continue to come. Some subsidiaries of Animoca also managed to receive investments under these difficult conditions. Therefore, I look forward to the upcoming period positively.”
As will be remembered, Siu said in a statement in November that they created a $2 billion metaverse and Web3 fund.