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Animoca denies reports of $200M cut to Metaverse fund and valuation drop to $2B

Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its Metaverse fund target by $200 million, or 20% to $800 million amid volatility in the crypto market and instability in the banking sector. The firm also down-played suggestions that its valuation has plummeted

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Animoca Brands cuts metaverse fund target to $800M: Report

Hong Kong-based Animoca Brands, a developer of blockchain gaming technology, has reportedly cut its target for its metaverse fund by a further 20% to $800 million, Reuters reported, citing sources familiar with the matter.The blockchain gaming technology company reportedly scaled back on its billion-dollar goal due to volatility in the

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Dubai Free Trade Zone Partners With South Korean Companies to Expand Web3 and Metaverse Business – Metaverse Bitcoin News

The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain

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Meta Announces 10,000 Layoffs in ‘Year of Efficiency’ Move; Singles Out AI Over Metaverse as ‘Largest Investment’ – Bitcoin News

Meta, the social media company, will continue to shed part of its workforce, recently announcing 10,000 new layoffs to be executed during 2023 as part of its new efficiency policy. Mark Zuckerberg, CEO of the company, stated that artificial intelligence (AI) was currently the company’s most prominent investment, even over

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The Pokémon Company Might Be Preparing to Make Moves in the Metaverse – Metaverse Bitcoin News

The Pokemon Company, a corporation in charge of the development of the Pokemon brand, might be preparing to make some moves regarding the franchise and the metaverse. The company has opened a job opportunity that includes experience and knowledge of fields like blockchain, Web3, and the metaverse as a requirement,

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South Korea Launches Metaverse Fund to Boost Industry’s Development

South Korea is planning to become a metaverse hub by 2026. Within the five-year metaverse development roadmap, the country aims to activate the ecosystem for metaverse platforms, nurture professionals, and foster companies. South Korea has announced the launch of a fund dedicated to supporting metaverse projects. According to the Ministry of Science and

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