{"id":19119,"date":"2023-03-25T23:49:19","date_gmt":"2023-03-25T23:49:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/animoca-refutes-valuation-and-fund-target-claims\/"},"modified":"2023-03-25T23:49:19","modified_gmt":"2023-03-25T23:49:19","slug":"animoca-refutes-valuation-and-fund-target-claims","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/animoca-refutes-valuation-and-fund-target-claims\/","title":{"rendered":"Animoca Refutes Valuation and Fund Target Claims"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Animoca Brands, a venture capital firm and Web3 game developer, has denied allegations that it reduced its metaverse fund target by $200 million (20%) to $800 million due to fluctuations in the cryptocurrency market and uncertainty in the banking industry. The company also dismissed the idea that its valuation dropped from $6 billion in July 2022 to approximately $2 billion in March 2023.<\/p>\n

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A March 24 Reuters article, based on anonymous sources familiar with the situation, alleged that Animoca initially slashed its $2 billion metaverse fund target in half in January before making a further 20% reduction to $800 million recently. The fund, which was announced in November 2022, was intended to invest in mid-to-late-stage startups with a focus on the metaverse. Animoca co-founder and chairman Yat Siu stated that the fund target ranged from $1 billion to $2 billion, contingent upon the amount of capital raised.<\/p>\n

In an official statement, Animoca clarified that it is not accurate to say that the fund target was \u201ccut\u201d from $2 billion to $1 billion because the $1 billion figure has always been within the stated range. The company acknowledged that the US banking crises have had an effect but emphasized that the final amount raised for the fund remains undetermined.<\/p>\n

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Animoca further noted that the fundraising process for the fund is ongoing and the market will be informed with relevant details, including the final size of the fund, once the process is completed. Siu commented on the leaked information, stating that the anonymity of the sources makes it challenging to determine their identity and motives, which is unfortunate.<\/p>\n

Regarding the company\u2019s valuation, Animoca asserted that the numbers reported by Reuters and two other unnamed sources were incorrect.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) Animoca Brands, a venture capital firm and Web3 game developer, has denied allegations that it reduced its metaverse fund target by $200 million (20%) to $800 million due to fluctuations in the cryptocurrency market and uncertainty in the banking industry. The company also dismissed the idea […]<\/p>\n","protected":false},"author":5,"featured_media":12863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19119"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19119"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12863"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}