Hong Kong-based gaming software company Animoca Brands held about $4.2 billion in cryptocurrency reserves between January and April 2022, according to the firm’s latest unaudited financial earnings report.
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Animoca Brands Reports $4.2B In Crypto Reserves
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The assets in Animoca’s crypto reserves include SAND, QUIDD, PRIMATE, REVV, TOWER, and GMEE, among others. The reserve was closed on April 30, 2022, although it was not part of the firm’s balance sheet.
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The earnings report includes revenue from the company’s major subsidiaries like The Sandbox, GAMEE, nWay, and Blowfish Studios, as well as blockchain revenue generated from investments and partnerships.
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The company’s investment portfolio amounted to $1.5 billion with more than 340 investments at the end of April 2022.
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Animoca Brands Holds BTC and ETH
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Animoca Brands also reported bookings and other revenues of $148 million and $573 million in Q4 2021 and the first four months of April, respectively. The booking profits were generated from token sales, NFT sales, secondary sales, and other non-related blockchain activities.
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The Hong Kong-based software company also disclosed its digital asset holdings of $211 million in the form of cryptocurrencies such as USDC, USDT, BUSD, ETH, and BTC with a cash balance of $98 million.
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Aside from cryptocurrencies, the firm also reported unspecified virtual asset holdings and other third-party tokens of $659 million.
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Investing in NFT Gaming
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Since its launch in 2014, Animoca Brands has pioneered crypto and NFT adoption. Its subsidiary, The Sandbox, is one of the most popular metaverse projects in the crypto space, with thousands of people using the platform daily.
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The company, valued at $5.5 billion, has invested in many blockchain startups. In January, Animoca Brands secured $358 million for strategic investments, and to support product developments and licenses for intellectual properties.
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In last 2021, Coinfomania reported that the firm raised $65 million to support NFT gaming applications. The investment round received support from venture firms like Ubisoft Entertainment, Sequoia China, Dragonfly Capital, and others.
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Source: https://coinfomania.com/animoca-brands-4-2b-in-crypto-reserves/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=animoca-brands-4-2b-in-crypto-reserves