11 Jul

Animoca Brands, a leading blockchain game developer and investor, has released its financial update for the fiscal year ending December 31, 2023. The company disclosed a decline in total asset value compared to the previous year, but noted an uptick towards the end of the year.

The company holds $175 million in cash and stablecoins, according to an official statement. Additionally, Animoca Brands' balance sheet revealed $203 million in cryptocurrencies, with 70% of these holdings in Bitcoin (BTC), Ethereum (ETH), ApeCoin (APE), and Polygon (MATIC).

Animoca Brands' portfolio also includes other altcoins such as SAND, EDU, REVV, TOWER, and GMEE, alongside its own tokens. The company clarified, "Digital assets on the balance sheet amount to $203 million, with roughly 70% held in BTC, ETH, APE, and MATIC. Reserves include altcoins such as SAND, EDU, REVV, TOWER, and GMEE, as well as Animoca Brands tokens.

"Despite the overall decrease in total asset value for the year, the company remains optimistic due to the upward trend observed towards the end of 2023. This suggests a potential recovery in the market and a positive outlook for the company's future financial performance.

Animoca Brands' financial update offers a snapshot of the company's current financial standing and its strategic allocation of digital assets. The company's diverse portfolio and significant holdings in major cryptocurrencies highlight its commitment to the blockchain space and its confidence in the long-term potential of digital assets.

July 2024, Cryptoniteuae

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