Blockchain Games Boom: Animoca Brands Awaits License for $800M Fund

• Animoca Brands co-founder Yat Siu expects a number of its blockchain gaming investments to come to market by the end of 2023.
• Animoca Brands originally earmarked up to $2 billion for a proposed metaverse fund in late 2022 which intends to invest in a variety of mid to late-stage startups building metaverse products and experiences.
• Siu told Cointelegraph that the firm was still awaiting a license before it can begin to put its money into the proposed metaverse fund, while expecting ‘AAA’ titles in which the company has invested in to hit the market by the end of 2023 or early next year.

Animoca Still Bullish on Blockchain Games

Animoca Brands co-founder Yat Siu is optimistic about the growth potential within blockchain gaming, as he expects a number of its investments to come to market by the end of 2023. Despite prolonged bear market conditions, blockchain-based games have been receiving considerable attention from asset managers, investment funds and venture capitalists who are looking for opportunities within Web3 gaming.

Metaverse Fund Awaiting License

In November 2022, Animoca Brands earmarked up to $2 billion for a proposed metaverse fund which intendeds to invest in mid and late stage startups building metaverse products and experiences. The company had since scaled back on its original investment target due to volatility affecting the cryptocurrency space, reducing it down from $1 billion in January this year and further down again at $800 million as reported in March. As per an exclusive interview with Cointelegraph, Yat Siu revealed that Animoca was still waiting for licensing before they could officially put their money into work through this fund.

Upcoming ‘AAA’ Blockchain Games

Siu stated that Animoca continues investing through its venture arm while they await licensing for their Metaverse Fund but also anticipates ‘AAA’ titles from their investments will hit markets by either late 2023 or early 2024 – thus highlighting their renewed optimism within the sector despite turbulent markets.

Blockchain Gaming Market Overview

Market research estimates that Web3 gaming pulled in around $4.5 billion during 2022 alone due to increasing interest from investors looking for opportunities within this new digital asset class – further driving growth and daily activity over various protocols despite long bear cycles throughout 2020 and 2021 respectively.

Conclusion

Animoca Brands continues bullish on blockchain games despite prolonged bear market conditions as Yat Siu expect a number of their investments to come out by end 2023 or early 2024. While they await licensing for their proposed Metaverse Fund before putting money into work, Animoca continues making investments through their venture arm while reports estimate that Web3 gaming pulled approximately $4.5 billion during 2022 alone – fueling growth across protocols despite bear cycles experienced throughout 2020/21 respectively