Animoca Brands, a non-fungible token (NFT) and gaming investor, plans to establish a fund worth up to $2 billion to invest in metaverse businesses, according to co-founder Yat Siu in an interview with Nikkei Asia on Wednesday. Siu stated that Animoca Brands will launch a new fund called Animoca Capital, with the first investment planned for next year. He added that the fund’s focus “will be entirely on digital property rights.” The term “metaverse” refers to a hypothetical world in which the internet exists as an immersive virtual space that can be used for work, play, socialising, experiences, and events.
