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NFT and gaming investor Animoca Brands plans to set up a fund worth $2 billion to invest in metaverse-related activities, Animoca&#8217;s Co-founder and Executive Chairman Yat Siu told <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/Blockchain-group-Animoca-to-form-metaverse-fund" target="_blank" rel="noreferrer noopener">Nikkei Asia Newspaper</a>.



Named Animoca Capital, the fund will make its first investments in 2023. Siu said that the fund would focus on digital property rights and develop the ecosystem. It eyes investing in the metaverse and NFT start-ups and Web 3.0 firms.



Siu pointed out that Animoca Capital would have no geographical restrictions for investment goals, adding it would be a good gate for Web 3.0 businesses and investors and a safe investment environment for traditional investors.



In spite of the fluctuations that the crypto scene witnesses during the current period, Siu noted that the fund would work to serve his company&#8217;s long-term goals, explaining: &#8220;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.&#8221;



Known for its metaverse game, the Sandbox. Animoca has made meaningful contributions to the metaverse world and Web 3.0 space. It allocated $10 million to the Web3 Industry Recovery Initiative, which Binance Labs launched aftermath of the collapse of FTX in November.



In July, it similarly conducted a capital raise of $75.32 million to advance the open metaverse. It also has about 380 investments in Web3 businesses such as OpenSea and Dapper Labs, according to Coinspeaker.



Animoca Brands is known as one of the pioneering investors in NFTs, blockchain gaming and metaverse-related companies. The Hong Kong-based company&#8217;s investors include GVV Capital of the US, Temasek Holdings of Singapore, South Korea&#8217;s Mirae Asset Management, and MUFG Bank of Japan.

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