{"id":5287,"date":"2023-03-27T09:00:35","date_gmt":"2023-03-27T09:00:35","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/03\/27\/animoca-denies-200m-metaverse-fund-cut-nft-news-today\/"},"modified":"2023-03-27T09:00:35","modified_gmt":"2023-03-27T09:00:35","slug":"animoca-denies-200m-metaverse-fund-cut-nft-news-today","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/03\/27\/animoca-denies-200m-metaverse-fund-cut-nft-news-today\/","title":{"rendered":"Animoca Denies $200M Metaverse Fund Cut &#8211; NFT News Today"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong><em>Animoca co-founder Yat Siu says that the company is pursuing its original plan to raise a metaverse fund.\u00a0<\/em><\/strong><\/p>\n<p>Venture Capital firm <a href=\"https:\/\/www.animocabrands.com\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Animoca Brands<\/a> has denied reports that its metaverse fund is being slashed to $800 million. Moreover, further reports that the company\u2019s valuation has dropped to below $2 billion are inaccurate, according to co-founder Yat Siu.\u00a0<\/p>\n<p>The reports centre around a <a href=\"https:\/\/www.reuters.com\/technology\/crypto-firm-animoca-brands-cuts-target-new-fund-again-sources-2023-03-24\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Reuters article published on March 24th <\/a>2023. The report claims that Animoca\u2019s metaverse fund is being cut by 20% to $800 million.\u00a0In addition, the key information comes from anonymous sources.<\/p>\n<p>The metaverse fund, announced in November 2022, is for mid-to-late stage metaverse startups.\u00a0Initially, the fund was targeted for between $1 billion and $2 billion. Then, in January <a href=\"https:\/\/nftnewstoday.com\/2023\/01\/09\/animoca-to-raise-one-billion-for-web3-fund\/\" target=\"_blank\" rel=\"noopener\" title=\"\">the number targeted was $1 billion.<\/a><\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><figcaption class=\"wp-element-caption\">Credit Animoca Brands<\/figcaption><\/figure>\n<\/div>\n<p>However, <a href=\"https:\/\/cointelegraph.com\/news\/animoca-denies-reports-of-200m-cut-to-metaverse-fund-and-valuation-drop-to-2b\" target=\"_blank\" rel=\"noopener\" title=\"\">speaking to Coin Telegraph<\/a>, Animoca said: \u201cThe claim that the Animoca Capital fund target was \u2018cut\u2019 from $2 billion to $1 billion is not correct, because $1 billion has always been within the range declared.\u201d<\/p>\n<p>The statement added: \u201cThere\u2019s no doubt that the FTX and banking crises have had a serious impact on available venture capital, but fundraising for the Animoca Capital fund is in progress. When the raise is concluded, we will inform the market with the appropriate details, including the final size of this fund.\u201d<\/p>\n<h2><strong>The valuation question<\/strong><\/h2>\n<p>The Reuters report also claims that Animoca\u2019s market cap valuation is below $2 billion. Indeed, Reuters supports these claims with information from the trading platform PrimaryMarkets.\u00a0<\/p>\n<p>Responding to the claims made by Reuters, Animoca Brands co-founder Yat Siu believes that the fact the sources are anonymous: \u201cmakes it difficult to ascertain exactly who or what the sources and agenda are, which is unfortunate.\u201d<\/p>\n<p>Furthermore, the company asserts that the figures given by Reuters and its sources are inaccurate.\u00a0<\/p>\n<p>Animoca said in response: \u201cWe do not consider the thin trading activity on PrimaryMarkets to accurately reflect the company\u2019s value. Trading volume is far too low to provide the price accuracy you would find on an actual primary market.\u201d<\/p>\n<\/div>\n<p><a href=\"https:\/\/nftnewstoday.com\/2023\/03\/27\/animoca-denies-200m-metaverse-fund-cut\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=animoca-denies-200m-metaverse-fund-cut\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Animoca co-founder Yat Siu says that the company is pursuing its original plan to raise a metaverse fund.\u00a0 Venture Capital firm Animoca Brands has denied reports that its metaverse fund is being slashed to $800 million. Moreover, further reports that the company\u2019s valuation has dropped to below $2 billion are inaccurate, according to co-founder Yat [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftnewstoday.com\/wp-content\/uploads\/2023\/03\/Animoca-brands-1.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/5287"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=5287"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/5287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/5288"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=5287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=5287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=5287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}