Web3-focused venture capital (VC) firm Animoca Brands has released an unaudited interim financial report detailing the company’s current financial health. As of April 30, 2023, the firm’s asset portfolio was reported to be approximately $3.4 billion.
The company’s financial resources comprise a cash and stablecoin balance of $194 million. Additionally, Animoca Brands holds liquid digital assets valued at $566 million, inclusive of reserves of The Sandbox’s utility token, SAND. The VC firm also reported off-balance sheet token reserves worth $2.7 billion. These reserves are designated for majority-owned Web3 subsidiaries under the Animoca Brands umbrella.
The firm also announced plans to release more financial updates in the near future. These updates would include an audited financial statement for the year 2020, which is set to be published soon. The firm would also share financial and business highlights for the full year of 2022 and the first quarter of 2023
Animoca Brands also addressed recent rumors regarding a drop in its metaverse fund target and a drop in its valuation in the interim financial update. The firm denied these reports, dismissing them as inaccurate.
In related news, Animoca Brands recently announced a licensing partnership with ALTAVA Group, a Singapore-based luxury fashion company. ALTAVA Group plans to leverage Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) from Animoca Brands’ portfolio for their Bored Ape Golf Club (BAGC) project.
As part of the agreement, all BAYC NFTs licensed to the project would be assigned to a special edition class in the BAGC digital collection. The Special Edition BAGC NFTs would feature outfits branded by Animoca Brands and The Sandbox.
