Hong Kong-based blockchain gaming giant Animoca Brands is all set to roll out a massive $2 billion fund, dubbed “Animoca Capital,” to invest in metaverse businesses, according to co-founder and executive chairman Yat Siu.
While speaking to Nikkei Asia, the exec revealed that the upcoming metaverse fund, which will make its first investment in 2023, will focus on digital property rights. It also seeks to provide opportunities to access Web3 companies.
The fund’s investment targets will have no geographical restrictions. Siu, who will lead the initiative with a partner, believes that Animoca Capital will prove to be a good entry point for Web3 businesses and investors.
The exec, in a statement, said,
“The long-term goal for us, and frankly for myself, is creating a way where we all have digital property rights. I’m hoping that this will also drive a scenario where the digital property will be recognized like physical property in the legal system.”
Animoca Brands has established itself as one of the most prominent investors in NFT, blockchain gaming, and metaverse-focused firms.
In September, the company announced raising $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. Animoca previously stated that the freshly infused funds will be deployed for strategic acquisitions, investments, and product development, securing licenses for popular intellectual properties, advancing the open metaverse, as well as promoting digital property rights for online users.