Animoca Brands posts $194m cash, stablecoin balance

Photo credit: Animoca Brands

Hong Kong-based Animoca Brands said it remains “financially strong,” sitting on a cash and stablecoin balance of US$194 million as of April 30.

The blockchain-powered gaming and VC firm said it has liquid digital assets of US$566 million, which includes reserves of Sand – the utility token used in The Sandbox, an NFT metaverse platform.

Around this time last year, Animoca Brands said its cash balance stood at around US$98 million, while its digital asset holdings were worth about US$211 million. The latter was a mix of USD Coin, Tether, and Binance USD, as well as Ether and Bitcoin.

Meanwhile, the firm’s digital asset reserves at the time sat at roughly US$4.2 billion.

Animoca Brands said it will report audited financial statements for FY 2020 soon, in addition to its FY 2022 and Q1 2023 results.

The company recently made several partnerships in the gaming space. These include making a Web3 mobile game with martial arts major One Championship as well as bringing and producing titles in the Middle East and North Africa region with Saudi Arabia’s STC Play.

See also: Animoca’s meteoric rise from zombie to $5b Web3 empire