Unlocking Animoca Brandsโ Digital Asset Treasure ๐
Are you curious about Animoca Brandsโ latest financial disclosures? The Hong Kong-based Web3 giant revealed that it has an astounding $558 million in digital assets on its balance sheet. Additionally, since December 2023, the company has acquired an extra $266 million in digital assets through various investments and token launches.
Recent Financial Position and Holdings ๐
- Animoca Brands disclosed a cash and stablecoin balance of $291 million in its latest financial update.
- Its Web3 subsidiaries hold token reserves worth approximately $1.8 billion off the balance sheet, with $1.3 billion in highly liquid tokens and $542 million in tokens with lower liquidity.
- The financial report does not include the value of Animoca Brandsโ 400 minority investments in Web3 companies as their valuation process is ongoing.
โWe have continued to build and expand despite the challenges of the cryptocurrency market in 2023. With the recent market rebound and the strengthening of the Web3 gaming sector, we are well-positioned for growth.โ
Adjustments Amid Market Volatility ๐
- Amidst the crypto market volatility in March, Animoca Brands modified the target of its metaverse fund, โAnimoca Capital,โ reducing it by 20% from $2 billion to $800 million.
- Previously, the fundโs target had been halved to $1 billion, resulting in a 60% reduction from its original goal. Animoca Capital was launched in November to support innovative projects in the Web3 space.
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