Animoca Brands Corporation Limited is pleased to report unaudited financial and business highlights for the 3 months ending on 30 June 2024 as well as the 3 months ending on 30 Sept 2024.
Post this reporting period, Animoca Brand notes that as of the end of November 2024 it recorded an increase of “approximately 40% in the value of its crypto asset balances and a doubling of revenue from market making and trading activity.”
In addition, MOCA Coin was listed on the South Korean exchanges Upbit and Bithumb on 16 Dec 2024, after which MOCA’s 24-hour trading volume exceeded $2 billion.
The results include contributions from Animoca Brand’s key business units and launch partners, including: The Sandbox, Mocaverse, Open Campus, Anichess, GAMEE, TinyTap, Animoca Brands Japan, nWay, Eden Games, Blowfish Studios, Pixowl, Forj, Motorverse, and Crazy Defense Heroes (TOWER), in addition to Web3 services revenue and revenue “arising from portfolio investments and partnerships.”
In the period following the conclusion of the 2024 US presidential election on 5 November 2024, crypto asset prices have increased dramatically, the update from Animoca Brands noted.
Post-election, Animoca Brands claims that it has seen the value of its crypto asset balances, both on and off balance sheet, “increase by approximately 40% through November 2024.”
Revenue from market making and trading activities “more than doubled during that period.”
As noted in the update from Animoca Brands, the digital assets sector is being led by moves in Bitcoin price to all-time highs.
Institutional investment continues to “move into the digital assets sector, most notably via Microstrategy (NASDAQ: MSTR).”
The rest of the digital assets sector, including altcoins, has “increased as well, and the company expects the improving outlook for more favorable and transparent regulatory environments globally to support continued digital asset growth.”
Animoca Brands has been investing in Web3 projects and technologies since 2018, and this strategy has “helped the company to gain deep industry expertise and exposure.”
As of Q3 2024, Animoca Brands held “over 530 investments in its portfolio, including investments made from the company’s balance sheet, its venture fund Animoca Ventures, and various accelerator partnerships.”
Investment management revenue is earned “through management fees from Animoca Ventures and the sale of tokens and exits from equity positions in the company’s portfolio.”
YTD Q3 2024, Animoca Brands invested in approximately “60 new projects and realized US$28 million from its token related investments.”
Recent investments in Q2 and Q3 reportedly include the following: Aethir, Carv.io, Gunzilla, Nillion, Abstract Chain, and Igloo, the company behind Pudgy Penguins, one of the leading NFT-based intellectual properties.