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The Sandbox Publisher Animoca Brands’ Reports $5B in Crypto, Cash Reserves

Animoca Brands has reported investing $1.5 billion in crypto and blockchain gaming across 340 companies, according to a new report.

2 min read
Animoca Brands is the company behind Metaverse game The Sandbox. Image: The Sandbox

Animoca Brands, the Hong Kong-based digital entertainment and crypto games publisher, released its key unaudited financial results for the last three months of 2021 and the first four months of 2022.

Per the report, the firm invested over $1.5 billion across more than 340 projects as of April 30, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas, among others.

In January, Animoca Brands was valued at over $5 billion after its latest funding round led by Liberty City Ventures. Other notable participants in the round included billionaire investor George Soros' Soros Fund Management and the Winklevoss twins.

Animoca Brands reported that in the past seven months, it earned over $721 million from token sales and NFT sales, including secondary sales and other non-blockchain activities.

The firm’s other income over the same period included gains and losses of investments and digital assets holdings, which included a cash balance of approximately $98 million and cryptocurrency holdings of about $211 million in Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and Binance's BUSD.

The firm's other reported digital assets holdings as of April 30, 2022, included unspecified third-party tokens worth approximately $659 million.

On top of that, the firm said it held digital assets reserves of approximately $4.2 billion, which are not reflected in its balance sheet. These reserves include the Animoca Brands tokens SAND, QUIDD, PRIMATE, REVV, TOWER, and GMEE, among others.

Animoca Brands' business highlights

In recent business highlights, Animoca Brands partnered with Bored Ape Yacht Club (BAYC) creator Yuga Labs on the metaverse game project called The Otherside while also launching ApeCoin (APE), the governance token powering the ApeDAO.

In addition to the revenue from portfolio investments and partnerships, the firm owns several blockchain game companies, including The Sandbox, Gamee, nWay, Blowfish Studios, and Grease Monkey Games.

Most recently, the firm strengthened its positions by acquiring Notre Game, the Prague-based publisher of hybrid physical-digital collectible card mobile game Scratch Wars, while also expanding its presence in Japan by establishing a strategic subsidiary called Animoca Brands Japan with a $10 million seed round.

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