Hong Kong-based Web3 game developer and software giant Animoca Brands has halved its $2 billion investment expectation for its web3 and metaverse fund due to market conditions.
According to Bloomberg’s report, Animoca Co-Founder and Chairman of the Board yacht Siu In a statement on Twitter Space broadcast, web3 and metaverse announced that they have halved their investment expectations for the fund. Siu for Animoca in the first quarter of 2023 approximately raise $1 billion Said they were aiming.
In the past months, for the fund in question 2 billion dollars investment due to current bear market conditions. cut his expectations in half. is estimated.
Siu also has about a dozen startups in Animoca’s portfolio. FTX He said he was affected by his bankruptcy. Continuing his speech, Siu added that their first goal is to successfully complete the first quarter of 2023:
The target is Q1 and we’ll see what happens next. It would be fair to say that it is a tough market. However, there is a lot of interest.
Among the projects that Animoca has invested in The Sandbox (SAND), Axie Infinity (AXS), Dapper (DAPP), Flow (FLOW), GreaseMonkeyGames, CryptoGames, Infura, ImmutableX (IMX), Bondly (BOND) and SafePal (SFP) including important names in the industry.