Blockchain, NFT, developer and investor in metaverse video games Animoca Brands reported generating $573 million in assets in the last three months of 2021 and the first four months of 2022. The George Soros-backed company increased its crypto investments to $5 million while the cryptocurrency market was in free fall. These investments also include altcoin projects such as SAND.
Animoca Brands’ altcoin portfolio is worth $5 billion
The Hong Kong-based company has made an additional $1.5 billion in more than 340 investments at the end of April. The data was released on Monday by the company itself.
SAND is among the main investments of the company
Animoca Brands’ revenue reached $148 million in the fourth quarter of the last 12 months and $573 million in the 1.4 months of 2022. The portfolio includes cryptocurrencies, NFTs and other non-blockchain earnings. Fund stability is $98 million and cryptocurrencies reached $211 million at the end of April. The company’s altcoin basket includes established coins such as USDC, USDT, BUSD, ETH, and BTC. It also has a $4.2 billion cryptocurrency reserve, which includes SAND, QUIDD, PRIMATE, REVV, TOWER, GMEE tokens. Animoca’s main portfolio has been determined as The Sandbox, GAMEE, nWay, Blowfish Studios, Grease Monkey Games.
Meanwhile, the company’s own product, The Sandbox, the Ethereum-based metaverse game released in 2018, received significant contributions from Animoca Brands. SAND led the November rally in the metaverse coin market, consistently reaching new ATH levels.
Animoca Brands invested areas
Since last year, Animoca Brands has raised almost $359 million in a funding round at a valuation of $5,5 billion. Thus, the value of the company doubled in just 3 months. Earlier, in October 2021, Animoca reached $65 million at a valuation of two, two billion dollars. In mid-April, Animoca Brands completed its acquisition of Eden Games, with ambitions to “acquire” the racing video games division. It also invested in Grease Monkey Games, Boldly, Notre game And Be media and series projects to strengthen its position in the Web3 market.
Continuing the boom in the NFT trend, the company is preparing to enter the Korean music industry to increase its presence. Preparations for a K-pop-only metaverse began in November with Animoca Brands, profitable Korean record label Cube Entertainment, and talent management firm Cube Entertainment.
GameFi, metaverse, NFT sectors Many projects supported by Animoca Brands recently and invested. However, all these investments have helped Animoca Brands improve its price range 5 times more than before.
As reported by Kriptokoin.com, The Sandbox (SAND), backed by Animoca Brands, recently acquired Uruguayan technology company Cualit. The investment will be spent on infrastructure developments that will foster Web3 and Blockchain innovations.
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