Animoca Brands Posts 47% Growth in Bookings Despite Crypto Winter

Quick take:

• Animoca Brands has issued an update on its 2022 financials.
• The web3 investment company’s bookings increased to A$594 million in 2022 from A$428 million in 2021.
• The figure comprises token sales, NFT sales, and other non-blockchain activities.

Animoca Brands has provided an update for its 2022 financial results. According to the unaudited report published on the company’s website, Animoca Brands reported A$594 million (approximated US$402 million) in bookings for 2022, up from A$428 million (approximately US$291 million) posted in 2021.

That is approximately a 47% increase in bookings, which is significant considering the impact of the crypto winter during the final quarter of the calendar year.

This figure comprises token sales, NFT sales, and other non-blockchain activities, according to the report on Monday,

The announcement comes two months after the company released the audited report for the 2020 financials. In May 2023, Animoca Brands also updated its financial position, which showed cash and stablecoin balances of $194 million.

According to the 2022 unaudited report, cash and stablecoin balance stood at A$286 million (approximately US$191 million), as of December 31, 2022.

Liquid assets, which include reserves of SAND, the utility token used in The Sandbox Metaverse platform A$690 million (approximately US$469 million). By May 2023, that figure rose to $566 million.

The company also revealed it had A$2.4 billion (approximately US$1.6 billion) in token reserves from its majority-owned subsidiaries, which rose to $2.7 billion as per the May 2023 report.

In 2022, the Hong Kong-based web3 investment company raised nearly $600 million across multiple rounds including $358.9 million announced in January, that year and $110 million in convertible debt announced in September.

It also completed multiple acquisitions including the purchase of Melbourne-based blockchain gaming studio Grease Monkey Games, Life Beyond Studios, and web3 education platform TinyTap, a web3-based educational platform.

The company also launched Mocaverse, an NFT collection created for its portfolio partners. Mocaverse recently teamed up with CyberConnect to develop a decentralised social layer for the members, enabling them to launch gamified products.

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