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Blockchain Group Animoca to Form Metaverse Fund

According to company co-founder and Executive Chairman Yat Siu, Hong Kong-based blockchain gaming group Animoca Brands plans to launch a fund of up to $2 billion to invest in metaverse businesses. Animoca is known for the Sandbox metaverse game that allows users to buy plots of digital land and decorate them using non-fungible tokens (NFT), a digital asset traded on the blockchain. Animoca's investors include Singapore state fund Temasek, GGV Capital of the U.S. and South Korea's Mirae Asset Management, and its latest fundraising valuation is over $5 billion. (Nikkei)

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