Animoca co-founder Yat Siu says the company is moving forward with initial plans to raise a metaverse fund.

venture capital firm Animoka brand has denied reports that its Metaverse fund has been cut to $800 million. Additionally, co-founder Yat Siu said further reports that the company’s valuation fell below his $2 billion mark are inaccurate.

The report Reuters article published on March 24 2023. Animoca’s Metaverse Fund Cuts 20% to $800 Million, Report Says. In addition, important information comes from anonymous sources.

The Metaverse Fund, announced in November 2022, is for mid- to late-stage metaverse startups. Initially, the fund targeted his $1 billion to $2 billion. Then in January he was targeted at $1 billion.

Animoka
credit animoka brand

but, talk to cointelegraphAnimoca says:

“While the FTX and banking crisis have undoubtedly had a severe impact on available venture capital, the Animoca Capital fund fundraising is on-going. We will notify the market with appropriate details.”

rating issues

A Reuters report claims Animoca’s market cap valuation is below $2 billion. In fact, Reuters backs up these claims with information from trading platform PrimaryMarkets.

In response to Reuters’ allegations, Animoca Brands co-founder Yat Siu said the fact that the sources are anonymous “makes it difficult to ascertain exactly who or what the source and agenda are. This is unfortunate.”

Additionally, the company claims that figures provided by Reuters and its sources are inaccurate.

Animoca responded by stating: Trading volumes are too low to provide the kind of price accuracy seen in real primary markets. ”

By Jules

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