Animoca Brands Announces Giant Metaverse Step

Animoca, the parent company of metaverse projects such as The Sandbox, continues its work in the web3 and metaverse world. In this context, the company stated that with its new fund, it will focus on companies that need more capital for their ventures in the field of blockchain technology.

Yat Siu, co-founder of Animoca Brands, stated that the newly launched fund with approximately $2 billion in funding is a very good opportunity for entrepreneurs. Stating that Animoca Brands, which has already collected $ 804 million from several investors, will continue to support the metaverse and web3 space, Siu made the following statements:

“For many traditional investors, it is safer to invest in a late stage of growth. It is very different from investing in a seed venture that is much more risky.”

It was stated that the new fund, called Animoca Capital, will carry out activities to support the sector, despite the current market conditions. Stating that growth should not be hindered, especially in bad times, Siu explained this situation with the following sentence:

“In a bear market, what usually happens is that the concentration goes to the market leaders. Whatever the circumstances, support is needed to grow.”

Moreover, Siu noted that Animoca’s metaverse and web3 games are powerful tools for crypto adoption.

Animoca, which is in the leading position in terms of market value, continues to make a name for itself with the investments it has made in the last few years. The company, which especially invests in blockchain-based game companies, has recently announced its new investments. As it will be remembered, the company announced that it has acquired the French game developer Eden Games, the creator of car racing-oriented games such as GEAR.CLUB, F1 Mobile, Need for Speed: Porsche and Rally. As it will be remembered, Animoca Brands also bought Grease Monkey, the mobile game developer behind games such as Torque Burnout and Torque Drift, in February of this year.

In addition to these, Animoca Brands, which has made a name for itself with the investments it has received, is constantly increasing its company valuation. The company, which made a fund announcement in the past months, announced that it has collected $ 75.32 million in funds in its last financing round with a valuation of $ 5.9 billion. In January, the company had a valuation of over $5 billion after raising $358.88 million in new funding. Now, the company continues to grow with a new financing.

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