EddieJayonCrypto
11 Nov 24
Animoca Brands, a Hong Kong-based Web3 company, led the venture landscape in October with nine investments across various sectors, surpassing other active entities. The firm expanded its focus beyond gaming and digital collectibles to include decentralized finance, decentralized physical infrastruct...
Animoca Brands, a Hong Kong-based Web3 company, led the venture landscape in October with nine investments across various sectors, surpassing other active entities. The firm expanded its focus beyond gaming and digital collectibles to include decentralized finance, decentralized physical infrastructure networks, and artificial intelligence. Animoca Brands has positioned itself as a leading investor in the Web3 space and is reportedly preparing for a potential public offering. Despite facing challenges in 2023, the company has shown growth and ambition in diversifying its investment portfolio. Traditionally known for its focus on gaming and digital collectibles, Animoca expanded its scope this month. According to Messari’s data, the firm has dipped its toes into sectors like decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), artificial intelligence (AI), and others. Animoca Brands has positioned itself as a leading investor in the Web3 space. The company is reportedly preparing for a potential public offering, though the exact timing remains uncertain. The decision will depend largely on the “market’s status,” among other factors, according to chairman Yat Siu. Despite what appears to be a productive 2024, Animoca faced a challenging year in 2023, much like the broader crypto industry. The Web3 giant grappled with layoffs and scaled back its metaverse ambitions by trimming its metaverse fund target from $2 billion to $800 million.