The post Web3 Giant Animoca Brands Expands Beyond Gaming, Dominates October Investments appeared on BitcoinEthereumNews.com.

Animoca Brands – the Hong Kong-based Web3 giant – led the venture landscape in October, signaling broader ambitions across different sectors. Messari reported that Animoca made nine investments, surpassing other active entities such as CMS Holdings, which made seven, and Hack VC with six. Animoca Brands Pushes Venture Limits in October Traditionally known for its focus on gaming and digital collectibles, Animoca expanded its scope this month. According to Messari’s data, the firm has dipped its toes into sectors like decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), artificial intelligence (AI), and others. Trailing behind Animoca are Celestia’s Ekram Ahmed and Helius Labs’ Mert Mumtaz, both of whom made notable contributions with five investments each. Next up was Andreessen Horowitz’s Crypto Startup Accelerator (CSX) program and Anagram Crypto recorded five investments each in October. Additionally, Robot Ventures, Hashkey Capital, and UTXO each participated with five investments, underlining a collective trend among firms to diversify their portfolios across various sectors. Animoca’s Growth So Far Animoca Brands has positioned itself as a leading investor in the Web3 space. The company is reportedly preparing for a potential public offering, though the exact timing remains uncertain. The decision will depend largely on the “market’s status,” among other factors, according to chairman Yat Siu. While Animoca’s intention to go public was revealed earlier this year, Siu emphasized that this ambition has been long-held. A report in June suggested that the listing could take place in either Hong Kong or the Middle East, with Siu indicating that Hong Kong is a “strong contender” due to the company’s headquarters being located there. Despite what appears to be a productive 2024, Animoca faced a challenging year in 2023, much like the broader crypto industry. The Web3 giant grappled with layoffs and scaled back its metaverse ambitions by trimming…

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Filed under: News - @ November 10, 2024 11:24 pm