Animoca Brands Holds Digital Assets Reserves Worth $5 Billion
- The company has made over $721 million in token and non-fiat sales in the last 7 months.
- Recent achievements include Animoca Brands’ collaboration with Yuga Labs.
Animoca Brands, the Hong Kong-based digital entertainment and crypto games publisher, revealed its prominent unaudited financial figures in the last seven months. The firm is the parent company of The Sandbox game. In January, Liberty City Ventures led a fundraising round for Animoca Brands that valued the company at more than $5 billion. The Winklevoss twins and George Soros’ Fund Management were other investors in the round.
$1.5 Billion Spent on 340 Projects
As announced by Animoca Brands, the company has made over $721 million in token and non-fiat sales in the last seven months alone. A cash balance of about $98 million and cryptocurrency holdings in Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and Binance’s BUSD were included in the firm’s other revenue during the same time. Over 340 projects, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games (Harmony), Alien Worlds, and Star Atlas, the business spent over $1.5 billion.
As of April 30, 2022, the firm’s digital asset holdings totaled $659 million worth of undisclosed third-party tokens. The company reported a further $4.2 billion in digital assets reserves as being kept off-balance sheet. SAND, QUIDD, PRIMATE, REVV, TOWER, and GMEE are just a few Animoca Brands tokens held in these vaults.
Recent achievements include Animoca Brands’ collaboration with Yuga Labs. This company created Bored Ape Yacht Club (BAYC) on the metaverse gaming project known as The Otherside, as well as the creation of ApeCoin (APE), the governance token that powers the ApeDAO. Aside from portfolio investments and collaborations, the business owns many blockchain gaming firms, including The Sandbox, Gamee, Blowfish Studios and Grease Monkey Games, which provide additional income.
Read more: https://thenewscrypto.com/animoca-brands-holds-digital-assets-reserves-worth-5-billion/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
