Animoca Brands FY2021 Annual Report

On 12 June 2025, Animoca Brands Corporation Limited announced the release of its FY2021 annual report. The report is now available for download and covers a range of financial and strategic highlights for the company during the 2021 financial year. Animoca Brands stated that the release of this report marks a key milestone in its ongoing efforts to align its financial disclosure practices with the requirements of the Corporations Act 2001.

Animoca Brands FY2021 Annual Report

Animoca Brands FY2021 Annual Report

In his chairman’s letter, Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, explained that the FY2021 annual report was completed without qualifications from the company’s group auditor, Hall Chadwick. The completion of the audit followed a lengthy process due to the complex accounting issues stemming from Animoca Brands’ growing portfolio of digital assets and blockchain-related operations. The chairman described 2021 as the first financial year in which the majority of Animoca Brands’ financial results were directly influenced by digital assets and blockchain activity.

FY2021 was a transformational period for Animoca Brands’ financial performance. The company’s net assets grew from a deficit of A$385,000 in FY2020 to A$337 million in FY2021. Bookings for the financial year jumped from A$49 million in the previous year to A$450 million, reflecting strong growth in revenue. Furthermore, the company’s net operating cash flow turned from an A$8 million outflow in FY2020 to a A$382 million inflow in FY2021.

The chairman explained that this growth reflects both Animoca Brands’ ability to generate cashflows and the unique characteristics of its business model, which focuses on the accumulation of digital assets and tokens. The report also highlights a key accounting consideration: while the Profit and Loss Statement reports a net loss of A$671 million due to non-cash charges and accounting treatments, this result diverges from the strong cashflows and booking growth the company experienced during the period.

Animoca Brands FY2021 Annual Report

Company Strategy and Developments

The FY2021 annual report underscores Animoca Brands’ ongoing transformation from a blockchain gaming and metaverse company into a key actor in the digital asset industry. The chairman explained that Animoca Brands not only develops its own projects but also collaborates with a range of ecosystem partners as an investor, publisher, and advisor.

This unique approach to growing its portfolio has allowed Animoca Brands to become a significant accumulator of digital assets and tokens across numerous companies and projects in the space. At the end of FY2024, the company held a robust portfolio of tokens and digital assets alongside a range of off-balance-sheet reserves for tokens to be distributed in future transactions.

Animoca Brands’ ecosystem includes more than 540 companies, many of which are recognized contributors to the developing ecosystem for digital assets and web3. Including OpenSea, Dapper Labs, Bitski, Star Atlas, and Axie Infinity. It also owns multiple game studios including The Sandbox, Blowfish Studios, Quidd, GAMEE, Darewise, Pixelynx, nWay, Pixowl, Lympo and many others.

Animoca Brands FY2021 Annual Report

Outlook and Market Developments

As Animoca Brands evolves its operations, it is increasingly recognized as a key actor in the future of digital property and a leader in the growing industry of tokenized assets. The chairman's letter highlights the ongoing progress in developing a more robust and clear regulatory framework for digital assets, particularly in the USA, which is expected to aid the industry's growth in the years to come.

This outlook comes amid growing institutional recognition of the role that digital assets and blockchain technology will play in the future financial ecosystem. The total market capitalization of cryptocurrencies has more than doubled since June 2021, reflecting growing confidence in this sector. Furthermore, daily trading volumes for tokens remain strong, and the market for non-fungible tokens (NFTs) continues to show sustained activity.

Animoca Brands FY2021 Annual Report

Animoca Brands’ Future Direction

As Animoca Brands moves forward, it aims to pursue initiatives that consolidate its role in developing the digital property ecosystem. The chairman explained that the future will be defined by the ability of companies and innovators to leverage blockchain technology to empower people to own, control, and benefit from their digital assets.

The annual report highlights Animoca Brands’ ongoing collaborations with companies, regulators, and financial institutions, noting its role in developing a stablecoin in collaboration with Standard Chartered Bank and Hong Kong Telecom. Furthermore, Animoca Brands is exploring opportunities to collaborate with large sovereign wealth funds and financial organizations to bring digital assets into mainstream financial markets.

This forward-looking approach underscores Animoca Brands’ view that the future will be driven by the recognition of digital property rights and the ability of individuals and companies to realize the full potential of their digital assets. Animoca Brands aims to remain at the center of this transformation, contributing to a more equitable and participatory digital future.