Friday, December 2, 2022

The Sandbox Parent Company Animoca Brands Reports a 5x Jump in Treasury Funds in Just 2 Months

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The Sandbox Parent Company Animoca Brands Reports a 5x Jump in Treasury Funds in Just 2 Months

Animoca Brands released the financial updates for the first nine months of 2021, reporting growth of $529.6 million in income while its booking increased to $140 million.

It currently holds a cash balance of nearly $36 million.

Additionally, the company holds more than $600 million in liquid digital assets, including $112.1 million in Bitcoin, Ether, BNB, USDT, USDC, and BUSD, along with third-party holdings of $456.3 million in altcoins such as AXS, FLOW, and other tokens.

Meanwhile, the reserve of digital assets belonging to the Animoca Brands ecosystem covering REVV, SAND, TOWER, and GMEE, which it says could be considered treasury, has about $15.9 billion at the end of November 2021, up from just $2.9 billion in just two months.

The company’s blockchain investments and partnerships portfolio consists of Sky Mavis, the parent company of NFT play-to-earn game Axie Infinity; Dapper Labs, which is behind CryptoKitties and NBA Top Shot; and NFT marketplace OpenSea among others.

The parent company of metaverse The Sandbox, Animoca Brands, announced that they are committed to building the open metaverse. The company believes NFTs are “central to the future digital experience,” said Yat Siu, co-founder and executive chairman of Animoca Brands.

Amidst this, gaming developer Ubisoft announced its plans to add NFTs to its games this week. But the trailer for its Ubisoft Quartz platform has been delisted after backlash from the community.

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