Animoca Brands’ assets reach $3.4 billion

Consolidated assets of the blockchain-game operator Animoca Brands as of 30 April 2023 stood at $3.4 billion. That valuation is contained in the unaudited interim financial statements.

We are pleased to share our latest interim financial update, with key unaudited financial positions as of 30 April 2023, as we start with the audited financial statements for 2020, key business highlights for 2022 and Q1 2023.

Read the full announcement:https://t.co/VQwS9biopr

— Animoca Brands (@animocabrands) May 11, 2023

According to the document, the asset structure looks as follows:

• cash and cash equivalents — $194 million;
• liquid digital assets, including SAND — $566 million;
• tokens of subsidiary Web3-companies — $2.7 billion.

Animoca Brands will issue updates, starting with the pro-audited financial report for 2020.

The firm also pledged to publish key financial and business metrics for 2022 and the first quarter of 2023.

The current report followed rumors that Animoca Brands faced financial difficulties. On 24 March 2023, Reuters reported that the operator reduced the target amount for its metaverse fund by 20% — to $800 million, and the company’s valuation collapsed by a factor of three—from $6 billion to $2 billion.

The next day Animoca Brands denied the speculation.

Robby Yung, the operator’s head, forecast that the development of metaverses would take at least 10 years.