Animoca Brands Raising $1 Billion for Web3 and Metaverse Fund in Q1 2023

• Animoca Brands seeks to raise $1 billion in Q1 2023 for its Web3 and Metaverse investment fund.
• The blockchain gaming platform is looking to support blockchain and Metaverse startups.
• Chairman and Co-Founder of Animoca Brands, Yat Siu, stated that Q1 is the goal for the fundraising.

Animoca Brands, a blockchain gaming platform based in Hong Kong, is looking to raise $1 billion in the first quarter of 2023 for a Web3 and Metaverse investment fund. This initiative comes after the decline of the crypto market and the crash of the FTX platform, which caused a significant loss of interest in the industry.

Chairman and Co-Founder of Animoca Brands, Yat Siu, has expressed his intention of completing the fundraising by the first quarter of the year. He stated that the fund will be used to support blockchain and Metaverse startups, which will be essential to the future of the industry. He added that, despite the current market conditions, there should be no concerns about the success of the venture.

The fund will be divided into two parts: Web3 and Metaverse. The Web3 portion will focus on projects with a focus on blockchain technology, decentralized finance, and smart contracts. The Metaverse part will focus on investments in platforms such as Decentraland, CryptoVoxels, and The Sandbox, as well as other virtual world projects.

Animoca Brands has also announced that it will launch its own token, which will be used to purchase virtual assets and access services within the platform. The company has already secured partnerships with some of the leading blockchain and Metaverse projects, and is expecting to secure more in the near future.

The investment fund will also be used to further develop Animoca Brands‘ own products and services, as well as to acquire new businesses. The company is aiming to become a major player in the Metaverse and Web3 space, and believes that its investment fund will provide it with the resources to do so.

Animoca Brands is confident that its investment fund will be successful and will help it to become a major player in the industry. With its focus on Web3 and Metaverse, the company is sure to be one of the biggest and most influential players in the space in the years to come.