17 April 2024 - Animoca Brands Corporation Limited ("Animoca Brands'' or the "Company") is pleased to provide an interim financial update on various metrics as well as guidance on the timing of future updates. Having continued to build and expand through the difficult cryptocurrency market of 2023, the Company is now well placed to capitalise on the market rebound evident over the last few months; in particular, the Company notes that Bitcoin recently reached a series of all-time high valuations and the Web3 gaming sector overall has strengthened considerably.
Key unaudited financial positions (non-IFRS measures) as of 31 March 2024 - The Company remains financially strong with a cash and stablecoin balance of US$291 million.
- Digital assets held on the balance sheet of US$558 million (1). Through multiple recent investments and token launch activities, the Company has added US$266 million of digital assets since December 2023.
- Off-balance sheet token reserves for all Animoca Brands Web3 subsidiaries of approximately US$1.8 billion, which comprise approximately US$1.3 billion in liquid(2)tokens and US$542 million in lower-liquidity(3)tokens.
- This update excludes the value of the Company's approximately 400 minority investments in Web3 companies, for which valuation work is ongoing.
The Company is working diligently to provide additional financial updates. Audited financial statements for the fiscal year 2021 are in progress, and the Company plans to provide key unaudited financial and business highlights for the full fiscal year 2023 in Q2 2024, subject to any disclosure limitations of the Australian Corporations Act 2001 (Cth).
Notes:
(1) In previous financial updates, these assets were referred to as “liquid digital assets” and included reserves of the SAND utility token. SAND reserves have been moved to off-balance sheet token reserves in order to more appropriately reflect those holdings.
(2) Liquid tokens are defined as tokens listed on a top-tier centralized digital asset exchange and/or with a 24-hour trading volume of more than US$25 million.
(3) Lower-liquidity tokens are defined as tokens listed on lower tier centralized exchanges or decentralized exchanges and/or with a 24-hour trading volume of less than US$25 million.
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