Animoca Brands has disclosed that it is “financially strong” to continue operations.
The Hong Kong-based firm reported a stablecoin reserve of $194 million as of April 30, 2023.
It also sits on $566 million worth of liquid digital assets, including a utility token for the "Sandbox NFT metaverse platform,” SAND.
Meanwhile, other token reserves not in the balance belonging to its majority-owned Web 3 subsidiaries are currently worth $2.7 billion.
In the last 3 months of 2021 ended on December 31, Animoca Brands had a total of $148 million in bookings and other incomes.
The bookings consisted of NFT sales, including secondary sales, token sales, and income from non-blockchain activities.
Other incomes comprised the gains or losses from digital assets holdings and investments.
By the first quarter of 2022 ended on April 30, the venture capitalist firm recorded $573 million under bookings and other incomes, showing an increase of $425 million.
Also, in Q1 2022, the firm's 340 portfolio investments were worth $1.5 billion.
Its cash balance in the same time frame consisted of $98 million and $211 million in digital assets, including BTC, USDC, BUSD, ETH, and USDT.
Animoca Brands also had other digital assets holdings consisting of 3rd party tokens worth $659 million in the same period.
Then its off-balance sheet digital asset reserve consisted of its token, SAND, TOWER, QUIDD, REVV, GMEE, PRIMATE, etc.
These tokens were worth approximately $4.2 billion on April 30, 2022.
Animoca Brands has continued pushing its interest in becoming a top brand in gaming and the metaverse.
It announced a partnership with one of its subsidiaries, Notre Game, and a renowned martial arts organization, ONE Championship, to create an NFT-powered
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