According to local media, Nikkei Asia, Hong Kong-based blockchain gaming developer and venture capitalist Animoca Brands, is planning to launch a $2 billion fund to support promising Metaverse projects in the coming months.

The company, founded by billionaire entrepreneur and angel investor Yat Siu, joined the crypto bandwagon in 2014 and has since then made strategic investments in more than 380 blockchain-focused firms, including Axie Infinity, OpenSea, Dapper Labs, Star Atlas, Coal Cats Groups, and Alien Worlds.

Through its numerous investments and gaming infrastructures, the gaming giant has positioned itself as one of the key players in the space with a $5.5 billion valuation. In June, the company raised $45 million to accelerate the growth of the Web 3 ecosystem.

Now, Animoca Brands is extending its investments to the digital universe, Metaverse. The new fund, called “Animoca Capital,” which will be released in the first quarter of 2023, will mark its first investments in the coming year.

According to the report, the company’s CEO, Yat Siu, said the investments would focus on digital property rights, non-fungible tokens (NFTs), and the open metaverse.

(By William A. Frederick)