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##Animoca Brands Denies Lowering Fundraising Target Amid Crypto Market Turmoil

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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

##Animoca Brands Denies Lowering Fundraising Target 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

When Animoca Brands, a Web3 game developer based in Hong Kong, raised $2.5 billion with its Meta Universe Fund in July 2022, it made headlines in the gaming and blockchain industries. However, recent rumors stated that the company had lowered its fundraising target by 20% to $800 million amid the turmoil in the crypto market and banking instability. Additionally, it is claimed that Animoca Brands’ valuation plummeted from $6 billion in July 2022 to about $2 billion in March 2023. In response to these claims, Animoca Brands stated on March 25th that they were not accurate.
###What is Animoca Brands?
Animoca Brands is a company that develops and publishes blockchain games and non-fungible tokens (NFTs), which are digital assets that are unique and verifiable on the blockchain. Established in 2014, Animoca Brands has become an industry leader in the development of blockchain-based games, including F1 Delta Time and The Sandbox, as well as NFT games such as Star Girl.
###Denial of Lowered Fundraising Target
On March 25th, Animoca Brands denied claims 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. The company stated that the claims were unfounded, and that funding for the Animoca Capital fund was ongoing. The company explained that while there is no doubt that the FTX and banking crises have affected available venture capital, Animoca Brands is determined to continue with the fundraising process.
###Valuation of Animoca Brands
Additionally, Animoca Brands has denied claims that its valuation had dropped from $6 billion in July 2022 to about $2 billion in March 2023. The company stated that its valuation remains healthy and that it will provide the market with appropriate details, including the final size of the fund, after the financing is completed.
###Impact on the Crypto Market
The crypto market has been in recent turmoil due to the declining value of several cryptocurrencies, including Bitcoin and Ethereum. This has, in turn, affected the investment market and raised concerns about the security of investment funds. Despite these concerns, Animoca Brands is committed to the Meta Universe Fund and is working to raise the necessary capital to continue investing in the blockchain and gaming industries.
###Conclusion
In conclusion, Animoca Brands is a Web3 game developer that has denied recent rumors that it has lowered its fundraising target for the Meta Universe Fund or that its valuation has dropped significantly. The company remains committed to the fundraising process and is determined to invest in the blockchain and gaming industries despite any market turmoil.
###FAQs
Q: What is Animoca Brands?
A: Animoca Brands is a company that develops and publishes blockchain games and non-fungible tokens (NFTs).
Q: What is the Meta Universe Fund?
A: The Meta Universe Fund is a fund established by Animoca Brands in July 2022 to invest in blockchain and gaming startups.
Q: How has the recent crypto market turmoil affected Animoca Brands?
A: While the crypto market turmoil has affected the availability of venture capital, Animoca Brands remains committed to the Meta Universe Fund and is working to raise the necessary capital to continue investing in the blockchain and gaming industries.
###Keywords
Animoca Brands, Meta Universe Fund, Web3 game developer, blockchain games, NFTs, crypto market turmoil, fundraising target, valuation, Bitcoin, Ethereum.

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