Animoca Brands has made a great number of investments in the blockchain/gamification/NFT space in the past 2-3 years. Some see this as a negative as AB1 dipped its hands in so many pies it could be a case of too many, and we do know growth companies can grow too fast and they trip over themselves if not handled carefully. And this super fast expansion probably contributed to AB1's account troubles that they have had too many pieces to piece together an auditable report for the old fashioned bean counters to feel comfortable.
But looking at the crypto scenes of the financial world today, I started to get a sense of understanding/appreciation of the situation AB1 has been in.
What I think was happening was that starting from 2018 when AB1 started to get very serious in NFTs and blockchains, Yat Siu, with his knowledge and the painful experience of been dumped by the app store, saw the emerging companies in this space and perceived a fast approaching boom in cryptos and NFTs, this little community was buzzing with energy just below the surface and Yat Siu/AB1 just had to get in when they see a good thing they like. So he started to scoop up or to participate in promising companies in this space. The number of deals they were doing was probably limited to the physical maximum they could do due to their limited resources.
What would those deals be worth in today's super hot environment for cryptos/coins/tokens?
Or, maybe I am again hallucinating. Any way I am stuck with a good bunch of AB1 shares I can't sell so instead of feeling depressed I might as well just feel good for myself.
AB1 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
