Animoca Brands, a Web3 gaming-focused company, has announced it is now targeting a raise of $1 billion for a fund directed to inject help for already established blockchain projects. The number is significantly lower than the $2 billion the company announced back in November as an upper limit for this same fund.Animoca Brands, one of the most popular Web3 gaming and blockchain companies, has made a new announcement regarding its fundraising goals for Q1 2023.
plans to launch this fund, declaring that Animoca Brands expected to raise up to $2 billion. At the time, Siu acknowledged the challenge that raising that amount of funds would represent, with the demise of FTX having recently shaken the cryptocurrency world. Q1 is the goal and then let’s see what happens. It is fair to say it’s a challenging market. But we have quite a bit of interest.
It is challenging, i mean look at facebook right now. Billions at loss!
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It's commendable that Animoca Brands is taking steps to create a more accessible DeFi ecosystem, even if it hasn't yet achieved its original goal. With the continued growth of crypto, it's only a matter of time before its ambitions become reality.
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