{"id":76155,"date":"2023-03-24T16:32:55","date_gmt":"2023-03-24T14:32:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76155"},"modified":"2025-09-10T15:45:02","modified_gmt":"2025-09-10T12:45:02","slug":"animoca-brands-trims-metaverse-fund-target-to-800-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/animoca-brands-trims-metaverse-fund-target-to-800-million\/","title":{"rendered":"Animoca Brands trims metaverse fund target to $800 million"},"content":{"rendered":"

The blockchain-games operator Animoca Brands has cut the target size of its metaverse fund by 20% to $800 million. Reuters, citing sources, reports this.<\/p>\n

In November 2022, the company announced plans<\/a> to launch a vehicle for investments in the realm of virtual worlds worth $2 billion. However, in early 2023 Animoca cut<\/a> this figure in half\u2014to $1 billion.<\/p>\n

According to the statement, the fund will focus on a ‘open to NFT and metaverse’ business. First investments are expected this year.<\/p>\n

According to sources, the changes in the company’s plans came after a sharp spike in volatility in the crypto market.<\/p>\n

Despite the bear market, in July the blockchain-games operator raised $75 million<\/a>, and in August \u2014 another $100 million<\/a>. CEO Robbie Yung acknowledged that securing financing this time proved more challenging than in previous rounds.<\/p>\n

Earlier he called<\/a> the creation of virtual worlds a ‘long-term plan’. In his view, the development of metaverses could take more than ten years.<\/p>\n

Back in September 2022, Animoca Brands announced the acquisition<\/a> of WePlay Media, the studio behind MotoGP Championship Quest.<\/p>\n","protected":false},"excerpt":{"rendered":"

Animoca Brands, the blockchain-game operator, has cut the target size of its metaverse fund to $800 million, Reuters reports citing sources.<\/p>\n","protected":false},"author":1,"featured_media":76156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1689,1353,1133],"class_list":["post-76155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-animoca-brands","tag-metaverses","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76155"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76155\/revisions"}],"predecessor-version":[{"id":76157,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76155\/revisions\/76157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76156"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}