Business News Report
May 11, 2023

Animoca Brands Reports $3.4 Billion in Assets, Demonstrating Financial Strength

In Brief

Animoca Brands reports assets worth approximately $3.4 billion in its recent interim financial report.

The report shows a cash and stablecoin balance of $194 million and liquid digital assets worth $566 million.

AOff-balance sheet token reserves for Animoca Brands’ majority-owned Web3 subsidiaries are valued at $2.7 billion.

In its recent interim financial report, blockchain gaming giant Animoca Brands has shared its unaudited financial positions as of April 30. The report reveals that despite recent reports of its valuation decline, the company remains financially robust, with assets worth approximately $3.4 billion.

The company’s unaudited financial positions reveal a cash and stablecoin balance of $194 million, along with liquid digital assets worth $566 million, which includes reserves of SAND, the utility token used in The Sandbox metaverse (Animoca Brand’s subsidiary). In addition, the report mentions off-balance sheet token reserves for all other Animoca Brands’ majority-owned web3 subsidiaries of $2.7 billion, adding to the company’s impressive financial portfolio. 

The Hong Kong-based game developer is committed to sharing more financial updates and plans to release its audited financial statements for 2020 soon. Following this, the firm will share important financial and business highlights for 2022 and Q1 2023.

Animoca Brands continues to partner with global brands and further expand in gaming and web3 markets. This week, the firm partnered with luxury fashion company ALTAVA to license its Bored Ape Yacht Club NFTs. 

At the beginning of the year, the company announced its plan to raise $1 billion in funding this year, primarily focused on digital property rights. Animoca Brands categorized its blockchain investments into three categories. These include blockchain games such as Arc8, Revv Motorsport, and Phantom Galaxies, as well as online games powered by NFTs and in-game tokens. The company is also interested in other types of NFTs, including avatars, PFPs, and artwork. Furthermore, Animoca Brands is driven by its top metaverse product, The Sandbox, which is part of its investment focus.

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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