Animoca Brands Reports That Their Investment Portfolio Now Worth Over $1.5B
The gaming software company, Animoca Brands, reported in their recent financial release after the four-month period that ended on the 30th of April that their portfolio Investments across about 340 Investments are now valued at over $1.5 billion.
Animoca Brands is a venture capital and game development company that was co-founded by Yat Siu, a Taiwanese entrepreneur, and investor, in 2014. The company has since its inception invested in more than 200 portfolios in sectors like gaming, NFTs, blockchain technology, and education among many others.
Yat Siu has proven to be a fastidious businessman with extensive development roots in the tech scene. He was the founder of Outblaze, Hong Kong’s first internet service provider, in the mid-90s after ditching his music studies. Outblaze was regarded as one of the first products that offered cloud computing services like application hosting and Webmail. It provided a software platform that served numerous individuals and businesses from the late 1900s but ended up selling that business unit to International Business Machines Corporation (IBM).
From the beginning of 2011, Outblaze led to Animoca which targeted the mobile gaming sector because of the massive creation of smartphones. With the continued success of the firm came the need for more innovation which in response birthed Animoca Brands. This spin-off brand emerged with an entrance into the popular NFT space with an exclusive deal of distribution for CryptoKitties, a Chinese brand, in 2017. In addition, one of the first and top investments of the brand was in OpenSea that later became the largest NFT marketplace, Sky Mavis, the company that houses Axie Infinity (AXS); Decentraland (MANA) one of the leading play-to-earn games and The Sandbox.
Earlier this year, in January, the firm raised $360 million in a series round, raising it to $5.4 billion. With its expansion came more incubation and creation of consumer and business products in various industries like music, gaming, education, AI technology, mobile, climate and health, and many others. It has served as one of the pioneers in its industries and the hub of information technology for a massive network of builders, developers, and companies.
Presently, it’s among the largest companies in the blockchain gaming, digital entertainment, metaverse, and web 3.0 space alongside Facebook, Binance, and many others.
Animoca Brands Key Investments
On the 6th of June, Animoca Brands released their key unaudited report, a business and financial overview of the last three months in 2021 and the first four months in 2022.
The summary of the report is;
- Bookings which includes token and NFT sales with other non-blockchain transactions; And “other incomes” which includes digital assets holdings and profits or losses on Investments. For the last four months in 2021 which ended on 31st December is approximately $148 million. For the first four months of 2022 that ended on 30th April is approximately $573 million.
- The net worth of portfolio Investments that spanned across more than 340 Investments as of 30th April was approximately $1.5 billion.
- Fiat holdings amounted to approximately $98 million and digital assets account balance of $211 million. The digital assets included likes of BTC, USDT, BUSD, USDC, and ETH. Other digital assets holdings totaled $659 million including third-party tokens.
- Animoca Brands’ digital assets reserve, which includes all its native tokens like REVV, SAND, and others, the balance which didn’t reflect on its balance sheets sits at $4.2 million.
It had also been reported to have partnered with many companies in various sectors of which some are not yet announced. Some of its prominent partnerships are with Yuga Labs for the Otherside project, Phantom galaxies, and ApeCoin. They went ahead to acquire BeMedia, Eden Games, Darewise, and Notre Games. It expanded its base of operation to Japan with a funding of $10 million.
All of these stand to prove Yat Siu’s statement during one of his interviews.
We’re an operator, building games, products, and metaverse projects centered around true digital property rights, which are NFTs to us. We invest in everything and we hope we can expand and grow the network effects of NFTs beyond games because that’s the tip of the spear and what brings adoption now.Yat Siu