owned by Animoca Brands exposure It is “financially sound” to continue operations.
The Hong Kong-based firm reported stablecoin reserves of $194 million as of April 30, 2023.
It also sits on $566 million worth of liquid digital assets, including utility tokens for the “sandbox NFT metaverse platform,” Sand.
Meanwhile, other token reserves that are not in the balance sheet belonging to its majority-owned Web3 subsidiary are currently worth $2.7 billion.
Animoca Brands Financials 2021 Q4 to 2022 Q1
In the last 3 months of 2021 ending on 31st December, Animoca Brands Bookings and other income totaled $148 million.
booking included nft Sales, which include secondary sales, token sales, and proceeds from non-blockchain activities.
Other income includes gains or losses from digital asset holdings and investments.
For the first quarter of 2022 ending April 30, the venture capitalist firm recorded $573 million in bookings and other income, an increase of $425 million.
Also, in the first quarter of 2022, the firm’s 340 portfolio investments were valued at $1.5 billion.
It had $98 million in cash balances and $211 million in digital assets including BTC, USDC, BSD, ETH and USDT over the same time frame.
Animoca Brands also owned other digital assets which included 3third Party tokens worth $659 million in the same period.
Then its off-balance sheet digital asset reserve included its tokens, SAND, TOWER, QUIDD, REVV, GMEE, PRIMATE, etc.
The value of these tokens on April 30, 2022 was approximately $4.2 billion.
Animoca Brands marks more milestones in 2023
Animoca Brands continues its pursuit of becoming a top brand in gaming and the metaverse.
announced it partnership along with one of its subsidiaries, Notre Games, and a renowned martial arts organization, ONE Championship, to create the NFT-powered mobile game, ONE Fight Arena.
Specifically, player testing of the game will begin in the fourth quarter of 2023 and a global launch in the first quarter of 2024.
Furthermore, on May 9, 2023, Animoca Brands announced a commercial agreement STC partners with STC Play to publish video games across multiple distribution channels across MENA.
Firm on May 11 announced another partnership With Altava Group.
The firm later disclosed its audited financial statements for 2020, 2022 and plans to report financial results for the first quarter of 2023.
A Brief on Animoca Brands
Animoca Brands is a leader in gamification, blockchain and digital entertainment.
Its focus on gamification is to advance digital property rights for the open metaverse.
Some of the company’s offerings include the SAND token and the REVV token.
It also has a few original games to its name, including The Sandbox, Crazy Defense Heroes, and Crazy Kings, along with several subsidiaries including Notre Games.
Notably, the firm’s entry into the crypto space was not a pleasant ride.
was a gaming firm remove from the Australian Stock Exchange (ASX) in March 2020 to engage in the digital asset industry.
But a year later, in 2021, Animoca Brands made it to the Financial Times list of “High Growth Companies in Asia-Pacific”.