cryptocurrency Animoca Brands, a leading company in the gaming and metaverse industry, plans to go public in Hong Kong or the Middle East early next year, according to Yat Siu, the company’s co-founder and executive chairman.
The company, which is valued at a staggering $6 billion in 2022, is known for its significant investments in non-fungible tokens (NFTs) and crypto gaming companies. Animoca Brands, in particular, is known for its popular virtual world game The Sandbox (SAND) Developer of the altcoin.
The move marks a significant return to the public markets for Animoca Brands after it was delisted from the Australian Securities Exchange four years ago due to accounting issues. The final location for the potential initial public offering (IPO) has not yet been determined.
Both Hong Kong and the Middle East are emerging as attractive destinations for the company due to their crypto-friendly regulations. These regions are actively adapting their regulations to meet the unique needs of crypto companies, as part of a larger initiative to attract technology firms and expand their capital markets.
The last fundraising round in 2022 valued Animoca at $5.9 billion.
*This is not investment advice.
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