Everything you need to know about Animoca Brands' updated financial position as of 31 March 2024.
Eliza Crichton-Stuart
Head of Operations
Animoca Brands Corporation Limited, known as just "Animoca Brands" to most web3/crypto enthusiasts, has just released its interim financial update on various metrics - as well as guidance on the timing of future updates.
Having continued to build and expand through the difficult cryptocurrency market of 2023, Animoca Brands says it is "now well placed to capitalize on the market rebound evident over the last few months." In particular, the Animoca Brands team shared with us that with Bitcoin recently reaching a series of all-time high valuations the web3 gaming sector overall has strengthened considerably.
Key unaudited financial positions (non-IFRS measures) as of 31 March 2024:
The Animoca Brands team also said that they were "working diligently to provide additional financial updates." Audited financial statements for the fiscal year 2021 are in progress, and the Company plans to provide key unaudited financial and business highlights for the full fiscal year 2023 in Q2 2024, subject to any disclosure limitations of the Australian Corporations Act 2001 (Cth).
(1) In previous financial updates, these assets were referred to as “liquid digital assets” and included reserves of the $SAND utility token. $SAND reserves have been moved to off-balance sheet token reserves in order to more appropriately reflect those holdings.
(2) Liquid tokens are defined as tokens listed on a top-tier centralized digital asset exchange and/or with a 24-hour trading volume of more than US$25 million.
(3) Lower-liquidity tokens are defined as tokens listed on lower-tier centralized exchanges or decentralized exchanges and/or with a 24-hour trading volume of less than US$25 million.
Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 400 investments in web3 projects, with the mission to advance digital property rights and contribute to building the "open metaverse".
The company and its various subsidiaries develop and publish web3, crypto and blockchain games, traditional games, and other products, many of which are based on popular global brands including The Walking Dead, Power Rangers, MotoGP™, and Formula E.
Yat Siu, co-founder and executive chairman of Animoca Brands, says: "One of Animoca Brands’ core philosophies has always been to support and empower mission-aligned builders who believe in the vision of web3 and the open metaverse to usher in digital property rights for all." You can learn more about Animoca Brands and everything they are working on here.
updated:
April 17th 2024
posted:
April 17th 2024