In short:Animoca Brands, the blockchain gaming company, disclosed $3.4 billion in assets, including $194 million in cash and stablecoin balance, and liquid digital assets worth $566 million, in an interim financial update. The Hong Kong-based firm also reported off-balance-sheet token reserves worth $2.7 billion for its Web3 subsidiaries, and plans to provide further financial updates following its audited financial statements for 2020. Animoca Brands was named the most funded metaverse developer by Nasdaq and had bagged the majority of metaverse deals in 2022, with 15 deals and over $564 million in funding.
Our quick analysis:
Animoca Brands, a Hong Kong-based blockchain gaming giant, has recently released an interim financial update, showing off its impressive $3.4 billion in assets as of April 30, 2023. The company proudly announced its robust financial position, with a $194 million cash and stablecoin balance and a whopping $566 million in liquid digital assets. These assets included the token reserves for SAND, the utility token used on its platform The Sandbox, and $2.7 billion off-balance sheet token reserves for its majority-owned Web3 subsidiaries.
Despite claims earlier this year that Animoca Brands had slashed its metaverse fund target to $800 million, the company has since denied these rumors and continues to position itself as a prominent player in the Web3 industry. In fact, Animoca Brands was recently named the most funded metaverse developer by Nasdaq, having closed 15 deals and receiving more than $564 million in funding.
With plans to release additional financial updates, including audited financial statements for 2020 and financial and business highlights for the full year 2022 and Q1 2023, it's clear that Animoca Brands is soaring high above the competition. So, what's next for this unstoppable blockchain gaming giant? Only time will tell, but one thing's for sure - the future looks bright.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Animoca Brands, a Hong Kong-based blockchain gaming giant, has recently released an interim financial update, showing off its impressive $3.4 billion in assets as of April 30, 2023. The company proudly announced its robust financial position, with a $194 million cash and stablecoin balance and a whopping $566 million in liquid digital assets. These assets included the token reserves for SAND, the utility token used on its platform The Sandbox, and $2.7 billion off-balance sheet token reserves for its majority-owned Web3 subsidiaries.
Despite claims earlier this year that Animoca Brands had slashed its metaverse fund target to $800 million, the company has since denied these rumors and continues to position itself as a prominent player in the Web3 industry. In fact, Animoca Brands was recently named the most funded metaverse developer by Nasdaq, having closed 15 deals and receiving more than $564 million in funding.
With plans to release additional financial updates, including audited financial statements for 2020 and financial and business highlights for the full year 2022 and Q1 2023, it's clear that Animoca Brands is soaring high above the competition. So, what's next for this unstoppable blockchain gaming giant? Only time will tell, but one thing's for sure - the future looks bright.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
0 Comments
Please, behave!