In a recent financial update, Animoca Brands announced bookings of $280 million for the fiscal year 2023, a significant decrease from $402 million in 2022. The company attributed this decline to the crypto winter that began in May 2022, with the collapse of Luna/Terra and FTX in November 2022.
Despite the challenges faced throughout the year, Animoca Brands saw an improvement in performance towards the end of 2023, with a 59% increase in Q4. The company ended the period with $175 million in cash and stablecoin balances, $203 million in digital assets, and off-balance sheet token reserves of $1.6 billion for Animoca Brands and its subsidiaries. Furthermore, total capital raised from equity and convertible note issuance amounted to $83 million in 2023.
Looking ahead, Animoca Brands has already released a financial report for Q1 2024, revealing that the company’s assets are now valued at least $2.7 billion. This positive growth trajectory indicates a promising outlook for Animoca Brands in the coming year.