Hong Kong-based blockchain gaming developer, Animoca Brands, has reportedly lowered the target for its metaverse fund by 20% to $800 million, according to sources familiar with the matter. This latest move indicates a further reduction in the company’s ambitions, following recent volatility in the crypto sector.
In November, Animoca Brands had announced that it was developing a new Animoca Capital fund with a target of $2 billion. However, the company later halved the target to $1 billion in January. It has now trimmed the target further to $800 million, said the sources who wished to remain anonymous.
