#Animoca Brands Denies Lowering Fundraising Target and Plummeting Valuation Amid Crypto Market Turmoil

On March 25th, Animoca Brands, a Web3 game developer, denied any claim that it had lowered its fundraising target for the Meta Universe Fund by 20% to $800 million amid the turmoil in the crypto market and banking instability. In addition, the company denied claims that its valuation had plummeted from $6 billion in July 2022 to about $2 billion in March 2023. The company stated that there is no doubt that the FTX and banking crises have had a significant impact on available venture capital, but that funding for the Animoca Capital fund is ongoing. After the financing is completed, we will inform the market of appropriate details, including the final size of the fund.

Animoca denies that its meta universe fund has been cut by $200 million and its valuation has been reduced to $2 billion

Table of Contents

I. Introduction
II. Animoca Brands Denial of Lowered Fundraising Target
III. Animoca Brands Denial of Plummeting Valuation
IV. Impact of Crypto Market and Banking Instability on Venture Capital
V. Animoca Capital Fund Continues to Receive Funding
VI. Conclusion
VII. FAQs
– What is the Animoca Capital fund?
– Has Animoca Brands been affected by the crypto market turmoil?
– What is the outlook for Animoca Brands and the Animoca Capital fund?

Article

Web3 game developer Animoca Brands has recently denied any claims that it has lowered its fundraising target for the Meta Universe Fund by 20% amid the turmoil in the crypto market and banking instability. The company also denied claims that its valuation had plummeted from $6 billion in July 2022 to about $2 billion in March 2023.

Animoca Brands Denial of Lowered Fundraising Target

According to Animoca Brands, there is no truth to the claim that the company has lowered its fundraising target by 20%. Animoca Brands has stated that funding for the Animoca Capital fund is ongoing despite the impact of the FTX and banking crises.

Animoca Brands Denial of Plummeting Valuation

The claims that Animoca Brands’ valuation had plummeted from $6 billion to about $2 billion have also been denied by the company. Animoca Brands has confirmed that the company is still valued at $6 billion.

Impact of Crypto Market and Banking Instability on Venture Capital

It is evident that the FTX and banking crises have had a significant impact on available venture capital. Many companies have been forced to reduce their fundraising targets, and others have seen their valuations decrease. However, Animoca Brands appears to have avoided any negative impact from these crises.

Animoca Capital Fund Continues to Receive Funding

Despite the adverse effects of the crypto market and banking instability, Animoca Brands’ Animoca Capital fund continues to receive funding. The company has assured the market that once the financing is completed, the appropriate details will be shared, including the final size of the fund.

Conclusion

Amid the turbulence in the crypto market and banking instability, Animoca Brands has remained steadfast in its approach to the fundraising target for the Meta Universe Fund. The company has denied claims of lowering the fundraising target by 20% and has stated that its valuation has not plummeted from $6 billion to about $2 billion.

FAQs

#What is the Animoca Capital fund?

The Animoca Capital fund is a fund created by Animoca Brands to invest in blockchain and non-fungible token-based games, metaverse projects, and other related assets.

#Has Animoca Brands been affected by the crypto market turmoil?

While the FTX and banking crises have had an impact on available venture capital, Animoca Brands has denied any claims of lowering its fundraising target and plummeting its valuation.

#What is the outlook for Animoca Brands and the Animoca Capital fund?

Despite the challenges posed by the crypto market and banking instability, Animoca Brands remains optimistic about the future of the Animoca Capital fund and web3 gaming industry in general.