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 from $6 billion as of July 2022 to roughly $2 billion in March 2023.
Stemming from a March 24 Reuters report that cited anonymous “people familiar with the matter,” it was claimed…
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