Animoca Brands’ assets worth at least $2.7 billion

Animoca Brands has released its latest financial update, showing the company currently has assets worth at least $2.7 billion.

As of 31st March 2024, Animoca has a cash and stablecoin balance of $291 million, up $100 million since December 2022. With digital assets worth $558 million, of which $266 million have been added in Q1 2024, the company’s total digital assets are up 16% from $469 million since December 2022.

Looking at the off-balance sheet token reserves for all Animoca’s web3 subsidiaries, it’s currently $1.8 billion, of which $1.3 billion consist of liquid tokens and $542 million of lower-liquidity tokens.

Notably, however, these numbers exclude Animoca Brands’ 400 minority investments in web3 companies, for which work is currently ongoing. And as these investments include the likes of Illuvium, Pixelmon, Xterio, Gunzilla, Planetarium, Studio 369, Skrice Studios, Mystic Moose and Wilder World, they could potentially increase the figures substantially.

With the general positive market performance so far in 2024, Animoca remains hopeful it can benefit from two indicators in particular, stating “Having continued to build and expand through the difficult cryptocurrency market of 2023, the company is now well placed to capitalise on the market rebound evident over the last few months; in particular, the company notes that Bitcoin recently reached a series of all-time high valuations and the web3 gaming sector overall has strengthened considerably.”

While still to finalise 2021’s audit, the company also says a forthcoming key unaudited update of 2023 will be released in Q2 2024.

Animoca BrandsFinancials