Metaverse Giant Behind The Sandbox, Animoca Brands, Reports Over $4B USD in Crypto and Cash Reserves
According to data from its most recent investors update.
On Monday, June 6, Animoca Brands, the metaverse giant behind The Sandbox, reported over $4 billion USD in digital assets and cash reserves in its most recent investors update. Additionally, the brand has a portfolio of investments valued at over $1.5 billion USD.
✅ Bookings and other income of US$148 million
✅ Portfolio investments valued at over US$1.5 billion
✅ Digital assets reserves of US$4.2 billion. Cash balance of US$98 million https://t.co/eNjDa2NrDG
— Harry Liu (@harry_forj) June 6, 2022
The report was made up of data from the company’s last 3 months of business in 2021 and the first four months of 2022, with the period ending April 30, 2022.
Key highlights include bookings and other income of approximately $685 million USD during the period. The income is made up of token sales, NFT sales, and other non-blockchain activities. Additionally, the brand’s portfolio investments were valued at approximately $1.5 billion USD across 340 different investments.
The company holds approximately $98 million USD in cash and approximately $211 million USD in the form of USDC, USDT, BUSD, ETH, and BTC. Other digital asset holdings include third-party tokens valued at roughly $659 million USD. In its reserves, the company holds digital assets valued at roughly $4.2 billion USD, these include Animoca Brands tokens like SAND, QUIDD, PRIMATE, REVV, and more.
“Despite current market concerns, we remain undeterred and positive about the future,” said Animoca Brands co-founder and executive chairman Yat Siu.
In the same light, the company shared its recent acquisitions, joint ventures, partnerships, and developments. Acquisitions during the period included that of Grease Monkey Games, Darewise, Eden Games, Notre Game, and Be Media in an effort to strengthen and expand gaming in Web3.
The company has also established new joint ventures with brands like AniCube, MetaHollywood, and OneFootball Labs. Additionally, it partnered with Yuga Labs in the launch of the Otherside, the metaverse project of the Bored Ape Yacht Club — also helping to facilitate the launch of the ApeCoin DAO and ApeCoin (APE).
In the report, Animoca Brands hinted that it has recently acquired a notable educational technology company, with more details to be announced soon.
Elsewhere in Crypto, US Senators Introduce Bipartisan Cryptocurrency Regulation Bill.