Private equity has its sights set on crypto. The latest: KKR is considering an investment in Animoca Brands, a Hong Kong-based gaming company building metaverse products with blockchain, according to a Bloomberg report. The investment is said to value the company at over $5 billion.

This story may sound familiar. In November, The Information reported KKR was leading an investment in Anchorage Digital, which provides custodial trading services for crypto asset management, at a $3 billion valuation. On Monday, Alchemy said technology-focused private equity firm Silver Lake had co-led an investment with Lightspeed Ventures into the blockchain infrastructure company at a $10.2 billion valuation.