Tuesday, February 7, 2023
HomeMetaverseAnimoca Plans To Creates New Funding For Metaverse Developers

Animoca Plans To Creates New Funding For Metaverse Developers

According to a Nikkei Asia report on Nov. 30, GameFi champion and metaverse developer Animoca Brands is planning a billion-dollar fund.

Yat Siu, co-founder of Animoca Brands, said in an interview that the fund might have up to $2 billion to invest in mid- to late-stage firms with a metaverse focus. The fund and the exact amount accessible to developers are still not disclosed.

According to Siu’s interview, people who get funds will not be limited regionally, and the key emphasis will be “anything on digital property rights.”

He also said that the funds are meant to speak to a more mature developing environment in the Web3-metaverse region, allowing investors to seek capital efficiency and maximise profits.

Aside from its involvement in The Sandbox metaverse, Animoca has been heavily active in the creation of nonfungible tokens (NFT) and GameFi. According to Siu, he thinks GameFi will be one of the key entry points for the general public into the metaverse.

Despite some recent hiccups with misread metaverse participation data, investors and the surrounding community are still optimistic about the metaverse as a future centre of online activity.

According to a DappRadar investment report, $1.3 billion was invested in GameFi and metaverse ventures combined in Q3. 36 percent of the funds were designated particularly for Web3 metaverse infrastructure development. Along with funding, various initiatives for efficient tools that will make metaverse design more accessible to developers are in the works.

Related Posts:

To get daily updates & trending news on crypto follow us on:

Facebook:- https://www.facebook.com/CryptoShrypto/

Instagram:-  https://www.instagram.com/cryptoshrypto_/?hl=en

 Twitter:-  https://twitter.com/cryptoshrypto1

Youtube:-  https://www.youtube.com/channel/UCdAOUEQ3L_eYjU_NMDA1zxg 

Reporter
Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular