Animoca denies reports of $200M cut to metaverse fund and valuation drop to $2B By Cointelegraph
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Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its metaverse fund target by $200 million, or 20% to $800 million, amid volatility in the crypto market and instability in the banking sector.
The firm also downplayed suggestions that its valuation has plummeted from $6 billion as of July 2022 to roughly $2 billion in March 2023.
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Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its metaverse fund target by $200 million, or 20% to $800 million, amid volatility in the crypto market and instability in the banking sector.
The firm also downplayed suggestions that its valuation has plummeted from $6 billion as of July 2022 to roughly $2 billion in March 2023.
Continue Reading on Coin Telegraph