According to its recent financial reports (which have not yet been audited), Animoca Brands listed over half a billion dollars’ worth of digital assets on their balance sheet.

Starting from December 2023, the company has obtained an extra $266 million for digital assets by making several new investments and introducing new tokens.

  • According to the official announcement released earlier this week, the Hong Kong-based Web3 giant disclosed a cash and stablecoin balance of $291 million.
  • Off the balance sheet, Animoca Brands’ Web3 subsidiaries hold token reserves totaling around $1.8 billion, consisting of approximately $1.3 billion in highly liquid tokens and $542 million in such with lower liquidity.
  • It’s worth noting that the latest figures do not include the value of Animoca Brands’ approximately 400 minority investments in Web3 companies, as their valuation process is still ongoing.

Despite facing challenges in the cryptocurrency market during 2023, the Company has persisted in growing and expanding. Now, with the recent market recovery becoming increasingly apparent, the Company is poised to seize opportunities. Notably, Bitcoin has hit new record-breaking valuations, and the Web3 gaming sector as a whole has significantly strengthened.

  • Amid crypto volatility last March, Animoca Brands adjusted the target of its metaverse fund “Animoca Capital” by slashing 20%, from an initial $2 billion to $800 million.
  • This move followed a previous halving of the target to $1 billion. Overall, Animoca Capital, which was unveiled in November, faced a 60% reduction from its original target.

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2024-04-22 01:20