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Animoca Brands reported $558 million in digital assets on its balance sheet, as per its latest unaudited financial disclosures.
Since December 2023, the company has acquired an additional $266 million in digital assets through various recent investments and token launches.Off the balance sheet, Animoca Brands’ Web3 subsidiaries hold token reserves totaling around $1.8 billion, consisting of approximately $1.3 billion in highly liquid tokens and $542 million in such with lower liquidity.
It’s worth noting that the latest figures do not include the value of Animoca Brands’ approximately 400 minority investments in Web3 companies, as their valuation process is still ongoing. “Having continued to build and expand through the difficult cryptocurrency market of 2023, the Company is now well placed to capitalize on the market rebound evident over the last few months; in particular, the Company notes that Bitcoin recently reached a series of all-time high valuations and the Web3 gaming sector overall has strengthened considerably.”the target of its metaverse fund “Animoca Capital” by slashing 20%, from an initial $2 billion to $800 million.
This move followed a previous halving of the target to $1 billion. Overall, Animoca Capital, which was unveiled in November, faced a 60% reduction from its original target.AI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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