Animoca Brands, the blockchain video game developer, is planning to launch a whopping $1 billion fund. The fund is reportedly dedicated to Metaverse development.
$1 to $2 billion fund
According to Yat Siu, the co-founder of Animoca Brands, the amount within the fund could be as high as $2 billion. They want to divide this money among companies that focus on the Metaverse. The exact amount that will be made available is not yet known, but it is in any case between $1 and $2 billion.
It is noteworthy that there will be no geographic restrictions on making a claim on any part of the fund. Anyone who has a good plan for the Metaverse and wants to flesh it out may be able to do so because of this.
According to Siu, the fund also aims to speak to a more mature development atmosphere in the Web3/Metaverse space, allowing investors to pursue capital efficiency and optimize returns. The fund’s first investments are expected to be made in 2023.
GameFi can become important
Animoca itself is currently a majority shareholder of one of the leading Metaverse platforms, namely ‘The Sandbox’.
In addition, the company has been involved in both the development of NFTs and GameFi. According to Siu, GameFi can be a hugely important part of drawing masses to the Metaverse.
While the Metaverse itself may still have a long way to go, investors and the surrounding community are very optimistic. Thus, the Metaverse could become a major hub of future online engagement.
In addition to investments, many projects are in the works for efficient tools that will make Metaverse design more accessible to developers. Finally, this should contribute to a better Metaverse experience.