Animoca Brands, one of the leading companies in the cryptocurrency world, has released its first quarter investor update. The Web3 gaming and venture capital firm reported that it has made a reservation of $90 million for the first quarter of 2024, an increase of 72% compared to $52 million in the previous year. Meanwhile, the altcoins on the company’s balance sheet attracted attention.
What altcoins are in Animoca Brands’ basket?
Blockchain game developer and investor Animoca Brands has revealed that it holds $203 million worth of crypto in its 2023 financial statements. The company said that its total asset value for the 12-month period ending December 31, 2023, was down from 2022. However, it also noted that it saw an increase in asset valuations following the late-2023 surge.
Animoca Brands also reported holding $175 million in cash and stablecoins as of fiscal 2023. The balance sheet shows that 70% of the company’s crypto assets consist of Bitcoin (BTC), Ethereum (ETH), Ape Coin (APE), and Polygon (MATIC). The reserves also include altcoins such as The Sandbox (SAND), Open Campus (EDU), Revv (REVV), Tower (TOWER), and Gamee (GMEE). In addition, Animoca Brands also includes tokens from its own projects in its basket.
Animoca Brands bookings up 72% in Q1
The company is expected to book $280 million in 2023, down 30% from $402 million in 2022. Of the company’s 2023 total, $182 million came from token sales, NFT sales, in-app purchases, and other non-blockchain sales by its affiliates, while $77 million came from token advisory fees, trading, and blockchain node operations.
Meanwhile, almost 10% of bookings were attributed to investment activities, with management fees from Animoca Ventures and gains from digital asset investments totaling $21 million. Despite a sharp year-over-year decline in bookings, which Animoca Brands attributed primarily to “the slowdown in economic activity in the overall digital asset market” and broader crypto challenges, its performance improved toward the end of 2023. In fact, bookings increased by 59% in Q4 compared to the previous quarter, with the upward trend continuing into early 2024.
Billion Dollar Sandbox
Meanwhile, Cryptocoin.comAs you’ve been following on , The Sandbox continues to grow among altcoins despite the 2022 market downturn. The Animoca Brands subsidiary raised $20 million at a $1 billion valuation shortly after announcing it had acquired over 330,000 unique content creators. These people join the company’s 5.7 million users who have created or participated in over 1,000 “experiences” on the platform.
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