Metaverse News

Animoca Brands lowers target for metaverse fund

According to sources familiar with the subject, Hong Kong-based blockchain game developer Animoca Brands has reduced its target by 20 percent to $ 800 million for its fund, which it calls the metaverse fund.

Animoca Brands lowers target for metaverse fund
Animoca Brands lowers target for metaverse fund

Animoca Brand, which announced in November that it is working on a new Animoca Capital fund with a target of 2 billion dollars, reduced this amount to 1 billion dollars in January.

The value of Animoca Brands reached $6 billion in July with the investment it received from Temasek. However, its shares are undervalued in the secondary markets, with a market cap of less than $2 billion.

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