Animoca Brands announced nearly $3.4 billion in assets, claiming it has remained financially strong despite recent reports that its valuation has plummeted.
The company has published an interim financial report that sets out its key unaudited financial positions as of April 30, 2023. The report highlighted that the company holds $194 million in cash and $566 million in liquid digital assets, including reserves in The Sandbox. Animoca Brands has $2.7 billion worth of off-balance tokens for all other Web3 affiliates, which are majority-owned by the report.
Company Promises to Publish Additional Financial Reports
Animoca Brands said it will release additional financial reports for 2020, starting with an audited financial statement. The company also promised to release financial and business highlights for 2022 and the first quarter of 2023.
On March 24, in a news Reuters citing anonymous sources, it was stated that the company reduced its metaverse fund target to $800 million and its valuation decreased from $6 billion to $2 billion. The company said in a statement on March 25 that these allegations were unfounded. The company’s co-founder, Yat Siu, stressed that the anonymity of the source makes it difficult to determine their intentions.
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