Thus, the company’s reserves in liquid digital assets, including Bitcoin (BTC), Ethereum ETH and USD Coin (USDC); exceeded $600 million, said Yat Siu, founder and chairman and of Animoca Brands.
According to him, financial success was the result of successful investments in NFT-oriented and metaverse projects. The Sandbox, a gaming platform owned by the company, launched an alpha version of the metaverse in November. Furthermore, the project demonstrates record sales, Siu noted.
From $2.9 billion to $15.9 billion as of the end of November
Other ecosystem participants have also made notable progress, including GAMEE, REVV Racing; Crazy Defense Heroes (Tower), Lympo, nWay and Quidd, Siu added. The reserves of Animoca Brands ecosystem projects in digital assets have increased more than fivefold in just two months – from $2.9 billion to $15.9 billion as of the end of November.
According to Siu, these assets, which include REVV, SAND, TOWER, GMEE and others tokens, can be considered the treasury of the company.
In addition, he recalled that a year ago, the cumulative monthly trading volume of the ecosystem’s main coins SAND and REVV amounted to $245 million annually. Therefore, at the end of November, the figure exceeded $10 billion.
NFT sales grew rapidly in 2021
Siu stressed that NFT sales grew rapidly in 2021, reaching $13.2 billion in three quarters. He called digital collectibles “the foundational block underpinning the entire open metaverse.”
Recall that earlier in October, Animoca Brands raised $65 million, its valuation was $ 2.2 billion. Investors included Tron founder Justin Sun, Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.
Moreover, according to the brand-focused metaverse and interactive content company; the latest funding will go toward financing strategic investments and acquisitions; product development and intellectual property licenses.