Animoca Brands announces strong 2022 financial performance with A$594 million bookings, A$286 million cash, and A$690 million in digital asset reserves, showcasing its expansion in blockchain and Web3 initiatives.
Key Points
- Animoca Brands reports A$594 million in bookings for 2022, a rise from A$428 million the previous year, spanning token and NFT sales.
- The company showcases robust liquidity with A$286 million in cash and A$690 million in digital asset reserves.
- Animoca Brands diversifies in blockchain with A$2.4 billion off-balance sheet token reserves and strategic acquisitions.
- Introduction of Web3 services and new leadership talent contribute to the company’s growth and innovation in the digital space.
Animoca Brands, a leading digital entertainment and blockchain technology company, has revealed its financial performance for the year ending 31 December 2022.
The company’s bookings have surged to an impressive A$594 million (approximately US$402 million), a significant increase from the previous year’s A$428 million (around US$291 million).
These bookings encompass various ventures, including token sales, NFT sales, and other activities beyond blockchain.
NEWS: @animocabrands Posts 47% Growth in Bookings Despite Crypto Winter – Bookings for 2022 increased to $402M from $291M in 2021.
This figure comprises token sales, NFT sales, and other non-blockchain activities, according to the report on Monday,https://t.co/FHiodEvciP
— NFTgators 🐊 (@NFTgators) August 28, 2023
Strong Liquidity Position
Delving deeper into its financial reservoir, Animoca Brands highlights a strong liquidity position with A$286 million (approximately US$191 million) in cash and stablecoin reserves.
The company’s liquid digital assets, which mainly consist of reserves of the SAND utility token used in The Sandbox platform, are valued at a substantial A$690 million (roughly US$469 million).
These figures showcase the company’s financial prowess and its strategic investments in digital assets.
Diversified Approach in the Blockchain Space
Animoca Brands’ off-balance sheet token reserves associated with its majority-owned Web3 subsidiaries have reached an astounding A$2.4 billion (about US$1.6 billion).
This includes tokens such as PROS, ASTRAFER, QUIDD, PRIMATE, REVV, TOWER, GMEE, and others, reflecting the company’s diversified approach in the rapidly evolving blockchain industry.
The year 2022 witnessed significant business expansion for Animoca Brands through the acquisition of six firms.
These acquisitions include prominent industry players like Grease Monkey Games, known for its game development expertise, and PIXELYNX, a unique music metaverse gaming platform.
These acquisitions further solidify Animoca Brands’ position in the market and its commitment to integrating diverse digital platforms.
Introduction of Web3 Services
In 2022, Animoca Brands made significant strides towards bridging the gap between traditional web platforms (Web2) and blockchain-based platforms (Web3).
The company introduced Web3 services to guide other businesses in seamlessly integrating tokens and NFTs into their existing models.
This initiative contributed a remarkable US$120 million to the total bookings for the year, highlighting its success and potential for future growth.
Animoca Brands has added new talent to its senior management team, including industry stalwarts Alan Lau, Minh Do, and Jared Shaw.
This infusion of expertise is expected to drive the company towards new horizons and further strengthen its position in the industry.
Product Development Success
Blowfish Studios’ “Phantom Galaxies” made waves by securing an impressive US$19.3 million from its Planet Private Sale, highlighting Animoca Brands’ focus on product development and innovation.
In conclusion, Animoca Brands continues to shape the digital landscape with its vast portfolio, strategic acquisitions, and focus on innovation.
The company’s strong financial performance, recognition from industry giants like Deloitte and the Financial Times, solidify its position as a key player in the digital property rights domain and the thriving open metaverse.
