Primarily The Sandbox One of the main owners of many metaverse projects, including Animoca Brands, announced that Animoca Capital, the investment arm of the company, will be operational soon.
According to the announcement made by the company, Animoca Capital has intermediate and advanced level projects as a project stage. metaverse will invest in its products. According to Asian sources, the blockchain game company has set aside $2 billion to invest in metaverse projects.
Animoca Capital One of its co-founders, Yat Siu, confirmed the news. Siu announced that they are targeting 2023 for their investment in metaverse projects. The investment fund will not impose any country/region restrictions on the selection of projects.
Yat Siu responded to critical questions about the continued decline in popularity of the metaverse sector this year:
“I believe that the crypto market will recover in the coming period. In particular, the interaction of the gaming industry with blockchain technology continues to increase. In addition, virtual reality is more successful at proving ownership than physical solutions.”
Metaverse Investments Continue
Animoca was not the only Asian company that announced today that it would make new investments in the virtual world. Daesung Private Equity, another South Korean mutual fund, has launched a new metaverse fund. The company set aside $83 million for its metaverse investment.
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