Animoca Brands Corporation Ltd remains financially robust, boasting a cash and stablecoin balance of US$291 million by the end of March 2024. This solid financial footing positions the company to seize opportunities arising from the recent market resurgence observed over the past few months.
In its interim financial update, Animoca Brands highlighted its resilience in navigating the challenging cryptocurrency market of 2023, paving the way for a promising second quarter in 2024. The company’s digital asset holdings have been instrumental in bolstering its financial stability, amounting to US$558 million as of March.
The accumulation of digital assets has been bolstered by recent investments and token launches, contributing an impressive US$266 million since December 2023. Off-balance sheet token reserves across all Animoca Brands Web3 subsidiaries reached approximately US$1.8 billion, comprising US$1.3 billion in liquid tokens and US$542 million in lower-liquidity tokens. 
Notably, the interim update does not incorporate the value of Animoca Brands’ approximately 400 minority investments in Web3 companies, as valuation assessments are ongoing. The company is diligently working towards providing additional financial updates, with audited financial statements for fiscal year 2021 underway. Furthermore, Animoca Brands plans to disclose key unaudited financial and business highlights for the full fiscal year 2023 in Q2 2024, subject to regulatory considerations.
As a recognized leader in the Web3 space, Animoca Brands leverages blockchain technology to grant digital property rights worldwide, facilitating the establishment of the open metaverse. The company boasts a diverse portfolio, encompassing original games like The Sandbox, PHANTOM GALAXIES™, and Crazy Defense Heroes, as well as products featuring popular intellectual properties such as The Walking Dead and Power Rangers.
With multiple subsidiaries under its umbrella, Animoca Brands is actively engaged in Web3 investments, boasting a portfolio of over 400 investments, including notable entities like Axie Infinity and Polygon. As the company continues to navigate and thrive in the evolving digital landscape, its commitment to innovation and growth remains unwavering.
