Animoca co-founder Yat Siu says that the corporate is pursuing its unique plan to lift a metaverse fund.
Enterprise Capital agency Animoca Manufacturers has denied stories that its metaverse fund is being slashed to $800 million. Furthermore, additional stories that the corporate’s valuation has dropped to beneath $2 billion are inaccurate, in response to co-founder Yat Siu.
The stories centre round a Reuters article printed on March twenty fourth 2023. The report claims that Animoca’s metaverse fund is being lower by 20% to $800 million. As well as, the important thing info comes from nameless sources.
The metaverse fund, introduced in November 2022, is for mid-to-late stage metaverse startups. Initially, the fund was focused for between $1 billion and $2 billion. Then, in January the quantity focused was $1 billion.
Nonetheless, chatting with Coin Telegraph, Animoca stated: “The claim that the Animoca Capital fund target was ‘cut’ from $2 billion to $1 billion is not correct, because $1 billion has always been within the range declared.”
The assertion added: “There’s 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.”
The valuation query
The Reuters report additionally claims that Animoca’s market cap valuation is beneath $2 billion. Certainly, Reuters helps these claims with info from the buying and selling platform PrimaryMarkets.
Responding to the claims made by Reuters, Animoca Manufacturers co-founder Yat Siu believes that the actual fact the sources are nameless: “makes it difficult to ascertain exactly who or what the sources and agenda are, which is unfortunate.”
Moreover, the corporate asserts that the figures given by Reuters and its sources are inaccurate.
Animoca stated in response: “We do not consider the thin trading activity on PrimaryMarkets to accurately reflect the company’s value. Trading volume is far too low to provide the price accuracy you would find on an actual primary market.”
