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 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.