Nobody expects real-time info in an investor deck. It is customary to select a consistent cut-off date to value all holdings/crypto (i.e. the last day of trading before the deck is finalised. They have not even been consistent with dates).
Regardless of the AXS token price as recorded in the investor deck, Animoca have not disclosed how many tokens they hold! This is the meaningful data, which is absent. If we knew this, then we would have the option to keep track in real-time (if the holding turns out to be large enough to warrant tracking). They provide this info for ICI (which may already be publicly available), but don't do this for any other portfolio holdings.
The token returns (for Axie and across the board) have been phenomenal, but we still have no idea what the total value of all holdings were at a specified point in time. Consequently, when AXS 20 bags from the price referred to in the investor deck, we are unable to factor this into a new valuation. Is our AXS holding now worth $50m, $500m or $1b+?
If Animoca's portfolio of holdings is valued at $1b, then you add this to the valuation of Animoca's revenue generating activities. Using your 20x revenue multiple as an example, the valuation would be $4b. It makes a huge difference to Animoca's valuation.
AB1 Price at posting:
18.0¢ Sentiment: None Disclosure: Held
