- Animoca Brands, a Hong Kong gaming and venture capital company, is seeking a $50 million investment from NEOM Tech & Digital Company, a Saudi Arabian government fund.
- Animoca Brands has emerged as a major player in blockchain gaming and metaverse investments. The NEOM deal would back Animoca’s ambitions in these areas.
- The potential investment mirrors wider metaverse investment trends, with billions flowing into metaverse startups. Saudi Arabia aims to be at the forefront through vehicles like NE
Animoca Brands, a Hong Kong-based game software and venture capital company, is seeking a $50 million investment from NEOM Tech & Digital Company, a Saudi Arabian government fund. This potential deal highlights the growing interest in the metaverse and blockchain gaming.
Animoca Brands’ Metaverse and Blockchain Gaming Focus
Animoca Brands has emerged as a major player in blockchain gaming and the metaverse. The company has acquired many blockchain gaming studios and NFT projects. It also invests heavily in metaverse and NFT startups.
With the NEOM investment, Animoca would gain backing from the ambitious Saudi technology project. NEOM aims to build a futuristic megacity powered by renewable energy and tech innovation. The metaverse and blockchain gaming fit into this vision.
Significance for the Metaverse Investment Landscape
The NEOM deal mirrors wider metaverse investment trends. Tech giants like Meta and Microsoft are pouring billions into metaverse development. Venture capital funding for metaverse startups hit $10 billion in 2021.
Saudi Arabia’s Public Investment Fund has also made metaverse investments, notably $1.5 billion into Unity Software. The potential Animoca Brands deal shows continued Saudi interest.
As the metaverse takes shape, more funding will likely flow into the space. Animoca Brands and NEOM are poised to capitalize on the emerging digital landscape. Their partnership underscores the metaverse’s potential for gaming, entertainment and beyond.
The potential $50 million NEOM investment into Animoca Brands highlights growing metaverse momentum. Major tech companies and venture capitalists are racing to fund metaverse startups. Saudi Arabia aims to be at the forefront through vehicles like NEOM. For metaverse true believers like Animoca Brands, the future looks bright.