2020 was a tumultuous year as the COVID-19 pandemic affected businesses globally, including Animoca Brands. Owing to high preparedness for remote work, the Company and its various subsidiaries were able to continue to operate throughout the pandemic with manageable disruptions.
The impact of lockdowns around the world throughout 2020 had the positive externality of increasing the time that gamers have to engage with video games, and gaming companies experienced increases in downloads, revenue generation and engagement. As a result, Animoca Brands’ business has grown during the pandemic, with
record quarterly and monthly revenuesin the first four months of the year (as reported on 8 July 2020) as well as record unaudited revenue and revenue received in advance for the 10 months ended 31 October 2020.
In the 10 months ended 31 October 2020, the Company recognised unaudited revenue and revenue received in advance of A$49 million with receipts from customers of A$34 million, representing a record increase on the same period in 2019. As of the end of October, the Company’s cash and cryptocurrencies on hand amounted to A$17.6 million, including A$16.4 million in cash, Bitcoin (BTC), Tether (USDT), and Ether (ETH), and A$1.2 million in other cryptocurrencies. The significant increase in Bitcoin and Ether holdings came from growth in the Company’s blockchain gaming activities, which involved various sales of non-fungible tokens (NFTs) including LAND for
The Sandbox, and racecar and crate sales for
F1® Delta Time. The Company maintains strategic holdings in iCandy Interactive Ltd (ASX: ICI), OliveX Holdings Limited (NSX: OLX) and Versus Systems Inc (CNSX: VS) which have each benefited from the global interest in the sector during 2020.
Throughout 2020, the Company announced a number of notable developments including: the
public listing of OliveX Holdings Limited; a
capital raise of approximately A$6 millionfrom strategic investors including M7 Asia and Mind Fund; the launch of the
REVV Tokenfor motorsport and its listing on various exchanges;
F1® Delta Time’s continuing growth as a leading blockchain game with the release of
competitive Time Trialmultiplayer game events and
multiple highly successful content sales; the record-breaking
auction forF1® Delta Time’s first track segment, which at the time was
the most expensive game NFTever sold; LAND sales in
The Sandboxtotalling A$2.5 million and the launch of its
Game Makercomponent; the listing on various exchanges of SAND, the utility token for
The Sandbox; and the launch of subsidiary nWay’s new title
WWE® Undefeated.
The Company looks forward to reporting financial results from initiatives that occurred in November and December 2020 including the launch of
WWE® Undefeated, the LAND presale in
The Sandbox, and various content sales in
F1® Delta Time.
Given the dramatic increase in cryptocurrency prices, especially Bitcoin and Ether, over the 2020 Christmas and New Year holiday period, the outlook for products priced in cryptocurrency, such as the Company’s blockchain games, is strongly positive. The management of Animoca Brands believes that the recent movements in cryptocurrency markets further validate the Company’s strategy of positioning itself to benefit from the growing global acceptance and adoption of blockchain based activities.
Later in 2021, the Company looks forward to the full commercial releases of a number of major gaming titles including
Battlepalooza,
F1®️ Delta Time, and
The Sandbox. Additional launches in 2021 will include the
GAMEE Token, the Quidd Token,
Star Girlon the
Flowblockchain, and the initial releases of the officially licensed blockchain games of MotoGP™ and Formula E, which will expand the
REVV Tokenmotorsports ecosystem.
The Company wishes to advise its shareholders that it will open a trading window for its shares on its PrimaryMarkets Private Trading Hub pending the completion of certain material developments currently in progress and expected to be announced in the near term; the Company will update shareholders with more details as soon as practicable.
If you have any queries in relation to this announcement, please contact[email protected].- ENDAbout Animoca BrandsAnimoca Brands is a leader in the field of digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of products including the
REVV tokenand
SAND token, games such as
The Sandbox,
Crazy Kings, and
Crazy Defense Heroes, as well as products utilizing popular intellectual properties such as Formula 1®, Marvel, WWE, Garfield, Snoopy, Power Rangers, MotoGP™, Formula E, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of
CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, United States, South Korea, Finland, Argentina, and the Czech Republic. Subsidiaries include The Sandbox, Quidd, Gamee, and nWay. For more information visit
www.animocabrands.comor get updates by following Animoca Brands on
Facebookor
Twitter.
Contact:[email protected]
