Miguel Cordon · · 2 min readAnimoca Brands holds $291m in assets amid rocky 2023 for crypto
Photo credit: Animoca Brands
Animoca Brands appears to have endured 2023’s tumultuous cryptocurrency market. According to unaudited figures up to March 31, 2024, the Hong Kong-based firm holds a cash and stablecoin sum of US$291 million – up from the US$194 million it held as of April 30 last year.
In addition, Animoca said it holds US$558 million in digital assets on its balance sheet. The amount is partly a result of its recent investments and token launch efforts, which the company says bolstered its digital portfolio by US$266 million since December 2023.
About US$1.8 billion worth of token reservoirs outside the balance sheet are with Animoca’s Web3 subsidiairies. However, the company says this does not account for the value of nearly 400 minority investments across other Web3 businesses.
Some of these investments include Singapore-based NFT firm Imaginary Ones, Web3 gaming firm Pixelmon, and multimedia startup Gacha Monsters.
Animoca also announced a strategic partnership with Hong Kong-based Hi Protocol in July 2023, which involved a US$30 million commitment. It also recently expanded its MENA footprint with an investment into Param Labs, a company that specializes in multiplayer blockchain games.
Currently, Animoca said it is preparing its audited fiscal report for 2021. It aims to release unaudited financial and business updates for fiscal year 2023 in Q2 2024.
See also: Cutting out crypto: Web3 firm looks to bring blockchain back to its roots
Editing by Putra Muskita and Eileen C. Ang
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