Animoca Brands Releases Key Unaudited Financial Report, Portfolio investments Worth Over $1.5Bn

Hong Kong-based Animoca Brands has released the company’s key unaudited financial and business highlights for the last three months of 2021 and the first four months of 2022. - 2022-06-07T115755.596.jpg

According to the report, the blockchain gaming specialist ended bookings and other income of A$213 million (approximately US$148 million) on December 31, 2021, for three months. While A$827 million (approximately US$573 million) was closed on April 30, 2022, for four months.

Bookings include token sales, non-fungible token (NFT) sales and non-blockchain activities. The report added that other income includes gains/losses of investments and digital assets holdings.

The results include contributions from the company’s key business units, including The Sandbox, GAMEE, nWay, Blowfish Studios, Grease Monkey Games, REVV Motorsport, TOWER, Quidd, Lympo, and Forj (formerly Bondly), in addition to blockchain service revenue arising from portfolio investments and partnerships.

As of April 30, Animoca Brands’ portfolio investments were valued at over A$2.2 billion (approx. US$1.5 billion) across over 340 investments. While, the company also had a cash balance of A$141 million (approx. US$98 million) and digital assets holdings of A$304 million (approx. US$211 million) in the form of USDC, USDT, BUSD, ETH and BTC.

Another key financial highlight as of April 30, was that other digital assets holdings of the company included third-party tokens of A$952 million (approx. US$659 million). The company’s digital assets reserves were at A$6.1 billion (approximately US$4.2 billion), which includes the Animoca Brands tokens SAND, QUIDD, PRIMATE, REVV, TOWER, GMEE, and others.

According to the financial report, the company successfully acquired Grease Monkey Games, Darewise, Eden Games, Notre Game and Be Media. Through these purchases, the company aims to strengthen and expand gaming and Web3 capabilities.

Animoca Brands’ also set up new ventures such as AniCube with Cube Entertainment, MetaHollywood with Planet Hollywood and OneFootball Labs with OneFootball.

One of the company’s major partnerships has been the Otherside project with Yuga Labs. The project aims to build the metaverse game of the Bored Apes Yacht Club (BAYC). 

The company also partnered with ApeCoin DAO to launch ApeCoin (APE).

In terms of tokens, Animoca Brands launched the play-to-earn PRIMATE Token for their mobile game Benji Bananas, connected to the ApeCoin ecosystem.

The blockchain gaming company was also successful in expanding business to Japan through their strategic subsidiary Animoca Brands Japan with a seed round of US$10 million.

Recently, Animoca Brands subsidiary Lympo also launched the SPORT token to replace the Lympo utility token LMT.

According to Blockchain.News, the SPORT token has been launched on the MEXC exchange (SPORT/USDT pair) and on the decentralized exchange Quickswap (SPORT/MATIC and other pairs). The SPORT token contract is bridged to Polygon Network and BNB Chain. 

Also, in a recent development, the company, along with Blowfish Studios, announced the closure of one of the most anticipated AAA blockchain games.

According to Blockchain.News, the Planet Private Sale for Phantom Galaxies sold 7,734 Planets and Asteroids (“Planets”) for a total of US$19.3 million.

Holders of the Planets – which are NFTs – will gain in-game real estate and utility along with a regular emission of the native cryptocurrency of Phantom Galaxies, Blockchain.News added.

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Andreessen Horowitz Floats $600M Gaming Fund

After more than a decade of actively investing in the gaming industry, Andreessen Horowitz (a16z) wants to further exert its influence in that space.


In order to do this, the investment giant has floated a $600 million fund which it believes will help position it aright to tap enough market share in the more than $300 billion industry.

The company said it floated the fund which it named Games Fund One with the backing of key players in the gaming industry including David Baszucki, founder of Roblox; Jason Citron, founder of Discord; Marc Merrill, co-founder of Riot Games; Mike Morhaime, co-founder of Blizzard; Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis; Kevin Lin, co-founder of Twitch, Mark Pincus, founder of Zynga; and Riccardo Zacconi, founder of King.

The enormous funds will be used to support startups building a wide range of solutions in the space. These solutions border on infrastructure, supporting ecosystems for developers, and outfits developing games directly.

“GAMES FUND ONE is founded on the belief that games will play a pivotal role in defining how we socialize, play, and work over the next century. Over the past decade, games have undergone a radical transformation, from simply being packaged entertainment to becoming online services that more closely resemble social networks and scale-like consumer technology companies,” the firm said in a blog post written by the trio of Andrew Chen, Jonathan Lai, and James Gwertzman, General Managers at a16z who will be in charge of the fund.

As it has gone all out with gaming, Andreessen Horowitz is also bullish on the role blockchain technology and Web3.0 has to play in the long-term future of the gaming industry. 

The firm detailed in a report earlier how Web3.0, powered by blockchain is a better offshoot for creators when compared to traditional solutions, and as such, the investment from Games Fund One will be extended to the emerging ecosystem to complement earlier investments in CryptoKitties and Axie Infinity and other notable startups in the space.

Andreessen has also been an active proponent of the blockchain gaming space. The company’s general partner Arianna Simpson has led investments in several high-profile pay-to-earn and crypto-related gaming companies like Axie Infinity maker Sky Mavis.

According to Protocol, the fund will also collaborate with Andreessen’s crypto fund to co-invest in blockchain gaming deals.

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Digital yuan transactions beat out Visa at Winter Olympics venue: report

On the day of the opening ceremony of the Beijing 2022 Winter Olympics, there were reportedly more transactions made in China’s central bank digital currency than those through Visa.

In a Wednesday report from the Wall Street Journal, a person familiar with the matter said transactions in digital yuan significantly outnumbered those of Visa on Feb. 4 at the Beijing National Stadium, also known as the Bird’s Nest — the location of the opening ceremony of the 34th Olympic Winter Games. However, many of the retailers allowing purchases with China’s central bank digital currency, the digital yuan — or e-CNY — were outside the Olympics’ quarantine “bubble” for athletes, journalists, and staff.

According to the report, those within the bubble have the option of paying for goods or services with cash, Visa, and digital yuan, and there are many automated machines allowing people to exchange fiat currency for e-CNY. Coupled with the likely intention of reducing contact between individuals in an effort to prevent the spread of COVID-19, it seems the country’s digital currency is pulling ahead of Visa — at least in an environment with limited use cases that includes participation from Chinese consumers.

“Replacing cash with digital yuan for payment can effectively reduce direct contact between people and the risk of the spread of Covid-19,” reportedly said the Beijing Organizing Committee for the 2022 Games.

Though payments using mobile apps like Alipay, WeChat Pay, and others are generally accepted at many retailers in China, these methods aren’t allowed at the Winter Games due to an exclusivity contract with Visa. The credit card company has reportedly not pushed back against the digital yuan payment options, possibly because it is awaiting approval of a domestic license application to operate in China.

CNN reported on Jan. 31 that the first international test run of China’s CBDC is facing hurdles due to the pandemic, with officials limiting the number of people allowed to enter the country. Though China hasn’t released data on the number of digital yuan transactions or athletes using the CBDC, U.S. lawmakers have warned Americans participating in the games of the potential dangers of testing the digital currency, including threatening U.S. interests in cross-border payments.

Related: China’s central bank releases pilot version of digital yuan wallet

At the time of publication, Cointelegraph was unable to find any reports of athletes claiming to have used the digital yuan for food or other essentials. The Wall Street Journal reported both the president of the Dutch Olympic Committee and a former Beijing resident now involved in television coverage of the games implied there was little point in using the digital currency when Visa was available. The Winter Olympics are scheduled to conclude on Feb. 20.