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Animoca Brands on track to end 2024 as a VC funding leader

Author: Content Editor
Animoca Brands, a VC fund that initially started as a game ICO, has surpassed other funds in terms of both the number and amount of money invested. The fund has shifted its focus to supporting Web3, NFT projects, and additional games. Animoca Brands has become the most active VC fund, expanding into 33 sectors for on-chain decentralized startups. They have been investing in high-profile projects like Pudgy Penguins and have been participating in mid-range funding rounds. In 2024, crypto funding has grown compared to the stagnant year of 2023, and Animoca Brands has extended its success by injecting $8B into crypto startups. The fund has also expanded its portfolio and funding efforts above the average level for other funds. Despite remaining focused on Web3 games, Animoca Brands has decreased its share of game projects and shifted its allocation to AI. Some of the top funding deals in 2024 were backed by Animoca Brands. Overall, VC-backed projects have decreased, and crypto-native funds have taken the lead in funding rounds. VC companies are avoiding meme tokens and seeking new models to avoid accusations of token dumping.

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